Education Executive backed plans to begin the formal consultation process which is legally required to create a new primary school.
This process will also review the catchment area for the new school, and close both Riverside and Letham primaries once the new school is in place.
West Lothian Council is funding 50% of the project, with the Learning Estate Investment Programme (LEIP), a joint scheme between Scottish and local government, providing the remaining 50%.
Executive councillor for education, Andrew McGuire said: "I welcome these proposals as an important step forward in delivering a new primary school in Craigshill.
"The replacement of Riverside and Letham primary schools with a new high-quality facility will deliver huge benefits for the education of local children. This will create a focal point for the local community and regeneration in the area.
"The statutory consultation is an important stage in the legal process that is required to create a new school, and will also give the local community a chance to voice their opinions on the proposed development."
The current Riverside Primary School building was closed in July 2023 due to issues with reinforced autoclaved aerated concrete (RAAC), with pupils relocated to the nearby former Beatlie School building.
It is proposed that the new school would be constructed on the site of the former Riverside Primary School, with the aim of pupils and staff from Riverside and Letham moving into the newly constructed school for the start of the academic term in August 2027.
The proposed new school would have a capacity of 462, with 80 nursery places, to ensure there is sufficient capacity for the area.
