Parents have drawn up plans to build a new city academy on an 11-acre plot in Brixton. It would be named after the former South African leader.
Campaigners will have to raise pound;2 million towards the school from charities and education foundations, with the rest from the Government.
Children in the south London borough have to travel an average of four miles to school. "We are serious and think kids here need this school if they are to succeed," said campaigner Devon Allison.
A 1,000-signature petition backing the Brixton academy was delivered to Downing Street in 2001. Parents hope the new school will be open in September 2005.