Director of National Museums Liverpool David Fleming said: "This will allow us to look at not just a historical assessment of the slave trade, but the legacy that we are left with today and that we will be looking at for many years.
"It's a terrifically significant project for the city, and for National Museums to deal with the topic in the intelligent and mature way we are proposing will show Liverpool is not frightened of analysing its history."
As a port city, Liverpool was at the centre of the slave trade and owes much of its wealth and buildings to the slave trade, which continued in the UK until 1807.
Visitors to the Maritime Museum have almost doubled in the past few years with 234,000 in 2001-2 and 412,000 coming through the doors in 2004-5.
Its slavery gallery is one of the few places that schools can learn about slavery, with groups coming from around the country to experience the exhibitions.
Tony Tibbles, the Keeper of the National Museums Liverpool, said the new centre would allow them to expand on this.
He said: "It will bring a lot more people to the city and will have a much higher profile. It's the only major display about transatlantic slave trade anywhere, and this will only enhance its reputation and make Liverpool a real destination for anyone interested in the subject.
"We can also look more closely at the issues which have come directly from the slave trade such as racism. It will be great for the city and is a way of facing up to part of the history of the city and looking at some of the consequences for all of us."
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