Springfield Ward 7 Ald. Joe McMenamin, who represents that area, said that Marshalls will occupy a space next to Burlington Coat Factory.
Construction should begin in the fall or early winter, and the company hopes to open the store in June 2019, he said.
The plaza also includes an Outback Steakhouse that opened earlier this year, relocating from a location off Dirksen Parkway.
Marshalls is owned by TJX Corp., which also owns the TJMaxx and Home Goods chains. Springfield already has a TJMaxx in the White Oaks Plaza, and Home Goods plans to open on Iles Avenue just west of Veterans on July 22.