If approved by the City of York council, the two-year development project at Monks Cross will generate around 2,000 construction jobs.
HSBC plans to have around 100 staff, including IT operations personnel and support workers, based at the proposed 325,000 sq ft centre, with scope for the addition of further finance IT posts in the future.
As part of the development, the BBC said the bank plans to install a new fiber optic network that could be made available to other businesses in the area.
An HSBC spokeswoman said: "Data centers are a critical part of the bank's information technology infrastructure, handling among other work, billions of pounds worth of transactions a day between individuals, companies and institutions."
Subject to planning approval, a final decision on the project will be made in 2009, she added.
HSBC currently has around 9,500 offices in 85 different countries. Its headquarters are in London.