The Midland Metro will be extended to stop directly underneath the Curzon Street Station.
Fifty million pounds will be invested to extend the tram line to the HS2 station before it is completed in 2026.
A further £55 million will be invested to take the Metro on to a major park-and-ride facility in Adderley Street.
The connection will branch off the tram extension currently being built through the city centre.
After stopping underneath the station, it would continue out through Digbeth.
Centro chief executive Geoff Inskip said research had shown that the West Midlands could more than double the economic growth and jobs offered by HS2 if the right transport infrastructure was put in place.
He added: “Even in isolation HS2 offers significant economic benefits for our region yet we can secure so much more by getting the connectivity right.
“With the proper transport links we can double the benefits for the West Midlands, increasing the number of new jobs to 51,000 while securing an annual boost to the regional economy of more than £4 billion.
“Taking the Metro to Curzon Street Station is a cornerstone of that required connectivity.
“Not only will it provide a quick and comfortable link for the 12,000 West Midlands people arriving at the station each hour but it will also serve as an additional catalyst for growth in Eastside, helping to open up new pockets of development.”
Work is currently under way on a £128 million extension through the heart of the city from Snow Hill to New Street Station and plans are also being finalised to take the trams on through a redeveloped Paradise Circus to the new library in Centenary Square.
A fleet of 20 new trams will also go into service on the existing Metro line between Wolverhampton and Birmingham later this year
The extension would be designed to allow future expansion of the tram network to the east of the city, potentially linking it to Birmingham Airport, the NEC and the UK Central business development.
Mr Inskip added: “Linking Curzon Street Station to the Metro network will connect the wider West Midlands and especially people in the Black Country to the national and European rail connections offered by HS2.
“It would also mean that all of the city’s rail stations, New Street, Snow Hill, Moor Street/Curzon Street are connected by the Metro network.
“The tram link is an intrinsic element and we believe it should therefore be incorporated as part of the HS2 project costs.”