A free school will open, supported by Brighton College.
The sixth form college, called The London Academy of Excellence, will be based in Newham, east London.
Half of the academy's pupils will come from Newham, which has high numbers of pupils eligible for free school meals - a measure of poverty.
To win a place, pupils must score at least five A grades at GCSE.
The school will offer just 12 traditional subjects, such as maths, physics, chemistry or history, with lessons led by tutors from top private schools such as Eton, Highgate School and City of London Boys' School.
Brighton College said Eton will take responsibility for English and Highgate School for mathematics.
The City of London Boys' School will send one of their PE staff to take control of sports.
Free schools, which are a flagship education reform of the coalition Government, are semi-independent state schools set up by parents, teachers, faith groups and other organisations.
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