Initial plans for a 254-metre high skyscraper, the so-called Paddington Pole, were withdrawn in February 2016 in the face of local opposition.
They have been replaced by plans for a 14-storey cube-shaped office building, elevated 12 metres off the ground.
Developer Irvine Sellar and architect Renzo Piano Building Workshop (RPBW), the team behind The Shard at London Bridge, are responsible for the Paddington plans too, along with Great Western Developments (GWD).
Their new plans for Paddington have been submitted to Westminster City Council. They expect a decision in December.
The £775m Paddington Place development includes £65m of public realm and transport infrastructure works, including a new public piazza at the front of the Paddington Station, created through the pedestrianisation of London Street.
The developers also claim backing from Transport for London, Network Rail and London Underground as they plan to provide a new Bakerloo line station and ticket hall.
Irvine Sellar, chairman of Sellar Paddington Ltd, said: “We are pleased to submit our revised plans for Paddington after months of public consultation. RPBW is a world-class architect and the design provides a commercially viable building that will deliver real change for the area.
“Paddington serves as an international gateway to London and our scheme provides both an elegant building and much needed new public space that will become a destination in its own right. We believe our plans will deliver significant improvements for the area surrounding Paddington Station and provide a catalyst for local retail, business and leisure to thrive.”