The move, revealed in the University's Accommodation Action Plan, will provide an additional 900 bed spaces and also refurbish large areas of its existing residences.
A major new residence is to be created on the site of Albany Park, while plans are in place to extend facilities at Fife Park, University Hall and Agnes Blackadder Hall.
Overall, the proposals will increase the number of university-managed student bedrooms in St Andrews from 4,000 to 4,900. Refurbishments will include electrical, catering kitchens and bathrooms.
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Director of Residential and Business Services, Ben Stuart, said: "We're excited to be able to move ahead with this wide-ranging programme which will provide the single largest expansion of student bedrooms in St Andrews for over a decade.
"Finding accommodation in St Andrews is perceived by some students to be a stressful challenge, when the reality is that there are often sufficient rooms and choices available.
"By publishing our Action Plan and commitment to expand and improve our student residences and the range and choice available, we hope to offer important reassurance to current and future students.
"We are also fulfilling a commitment to the town that wherever possible we would provide modern, university-managed accommodation for students to lessen the pressures on the private housing market in the centre of St Andrews."
The new build and improvement works will be phased between now and September 2019.
(LM/JP)
