The £30m centre will be one of the UK's first to offer Proton Beam therapy, an advanced form of radiotherapy, used in the treatment of a range of brain tumours. Currently such treatment is only available abroad.
It will be built by Proton Partners, the company also constructing a Proton Beam centre in Newport.
The centre will also have a linear accelerator, as well as a CT Suite and an MRI scanner.
Mike Moran, chief executive of Proton Partners, told getReading news, “Located just off the M4 corridor and with connections to Heathrow, this centre will make proton beam therapy available to patients from the south of England as well as international patients.
“We're bringing the top cancer technology to Reading – which is true of all of our treatment centres – and this investment will not only enhance the level of cancer treatment available."
Cameron goes onto say; "However, what we need to focus on next is ensuring that everyone this will make a difference to, will have access to that treatment, as and when they need it".
Two other NHS Proton Beam centres are planned for the University College London Hospital, due for completion in 2019, while Christie Cancer Centre in Manchester is scheduled for completion in 2018.
Alongside these two new facilities, in the private sector, Proton Partners International plan a Newport centre that will offer some NHS treatments.