The new Haymarket marshalled rank will start operating on Friday 12 March.
John Mason, TfL's Director of Taxi and Private Hire, said: 'I've seen for myself that any marshalling schemes we have provided have been very popular with drivers and passengers alike.
'We will be moving the existing Cranbourne Street scheme to Haymarket as a direct result of concerns raised by the trade.
'As I am sure the trade will understand, we only have a limited amount of funding for such schemes so it's vital we are flexible and able to respond to changes in demand.
'In addition TfL will continue to seek funding for future schemes in other key areas.'
Notes to editors