The Metrolink line to Ashton opened in October 2013 and plans for the new bus station were part of the 2012 town centre framework.
The plans include a single covered concourse to replace the five island platforms, improved waiting areas, cycle parking and better access to travel information and tickets.
Cllr Kieran Quinn, leader of Tameside Council, said: “I and other members of this council are delighted that £33M of external funding is being brought in, through the Tameside Interchange, to support our existing Vision Tameside redevelopment plans. Vision Tameside will bring once-in-a-generation change to Tameside and this next step in the process is an important one.
“I also need to say what a fantastic development the new Tameside Interchange will be. The plans point to a much more pleasant place to be than the current station which, compared to the existing facility, will be much lighter and much more welcoming.
“The covered walkway between the bus terminal and Metrolink stop, which was extended in response to resident feedback, will ensure that public transport users can stay dry whilst moving between different modes of transport. The project will also free up a good-sized plot of land in our town centre for redevelopment.”