To be built on a 2 acre plot, it will promote holistic education with focus on the three-staged material, social and normic aspects of life as envisioned by Vivekananda.
IIT officials said the centre aims to fulfill Vivekananda's vision of having a right mix of modern education drawn from the best western ideals with the goal of total development of human personality as envisioned by the eastern sages.
IIT Kharagpur director Partha Pratim Chakrabarti said Vivekananda is a youth ideal and hence the centre is being named after him to honour his spirit and inculcate it among the youth.
He said that in addition to regular academic curricula there is a need for leadership and human excellence.
With meditation and yoga it will promote concentration and mental strength, self-reliance and confidence, character building and physical education, officials said.
As a human excellence and leadership centre there will be regular lectures and discourses on thought leadership.
By focusing on art, architecture, philosophy and cultural heritage it would also provide for holistic development of students, they said.
The centre would be built with funds of Rs 15 crore from the union ministry of human resource development, officials said.
IIT alumnus Vijay Kumar has contributed Rs 1 crore for the project, the construction of which is expected to start from next year.