"I can't say anything other than it is the ultimate assignment," Nittve said of his new post in a statement on Wednesday.
Nittve will step down on October 31st after a widely regarded nine-year tenure as head of Moderna and is due to move to Hong Kong in January.
The Stockholm museum described Nittve's new project as "perhaps the most comprehensive museum project in the international arena in the coming decade".
M+ is part of a larger 22 billion kronor ($2.8 billion) cultural project to showcase contemporary art and culture in a new 40 hectare arts district in Hong Kong's Victoria Harbour.
Lars Nittve's role will be to formulate the vision for the museum, build up a team, a collection, and a building on a peninsula in the harbour in the centre of the city, home to seven million people.
"In the M+ project I feel that everything I have learned over the years, at Moderna Museet, Tate Modern, Louisiana and even Rooseum will be really useful, so that I can truly make a contribution in a world city undergoing rapid change," Nittve said.
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