The group, owned by William Chow, will open the restaurant at the site of the former Itsu restaurant on Wardour Street in August, growing Banana Tree's estate to six.
Launched by Chow 20 years ago, Banana Tree has slowly grown from a single 36-cover site in Maida Vale, west London to being the operator of a five-strong restaurant group.
But despite two decades of growth in the capital, Banana Tree has, until now, resisted opening in central London. Its other sites are in Angel, Bayswater, Clapham Junction and West Hampstead.
A spokesperson for Banana Tree said its decision to open in Soho was down to the group's growing success and to the increasing interest in 'healthy south east Asian food.'
Chow regularly travels to Malaysia, Thailand, Vietnam and Cambodia to source spices and herbs for his menu, which features a selection of regional specialities.