The plans were previously shelved in January 2015 following cut-backs, which included several stores closing and the halting of new developments across the country.
The decision to revive their proposal marks a major investment in the town, and follows a constructive meeting between Tesco and East Lindsey District Council.
A Tesco spokesman said: “The scheme will deliver a significant number of new jobs for the town.
“A typical superstore creates jobs for around 250 people, with a variety of roles available.
“Tesco will be submitting a new planning application and as part of the planning process there will be a full consultation with the local community, details of which will be shared shortly.”
The spokesman added: “The decision to make this major investment in the town follows a review of our long term growth strategy.
“We will be submitting a new planning application for the store shortly and the scheme will deliver a significant number of new jobs.”
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