London Underground will run weekend services 24 hours but under these plans ticket offices will close and up to 750 job will be lost.
According to the BBC, the Night Tube will provide services on the Piccadilly, Victoria, Central, Jubilee and Northern lines.
Transport for London (TfL) has said every ticket office would close by 2015, resulting in the job cuts.
The RMT union said it had “not ruled out” strike action in the run-up to Christmas over the “lethal” cuts.
TfL has also promised that six major central London stations will have special customer points to help tourists and that every station will be staffed while the tube is running, with workers moved out of ticket offices into station booking areas.
Under the plans it has also promised the following:
• Wi-fi coverage across all below-ground stations
• Disabled access at a further 27 stations
• Contactless bank card payment to make it easier to pay for tickets
• More new trains and updates for stations
The initial plans for the 24-hour Night Tube include overnight trains on Friday and Saturday, with plans for it to expand over subsequent years.
Mayor of London Boris Johnson, said: “This is just the first stage in an opening up of the tube network to become 24 hours.
“For 150 years the Tube has been the beating heart of London, its tunnels and tracks providing the arteries that have transported millions of people and helped to drive the development and economic growth of our great city.”
London Underground will now go into a 90-day consultation on its proposals but says there will be no compulsory redundancies and has promised that every member of staff who wants a job and who is “ready to be flexible” will have one.
The managing director of London Underground Mike Brown, said: “All Tube stations will continue to be staffed and controlled in future, with more staff visible and available to customers.”
Customers have expressed concern over the ticket office closures but broadly welcomed the 24-hour service.
Garvie Gay, 36, from Bedford said he regularly needed help from counter staff.
He said: “It’s not good because I don’t know where I’m going half the time. I’ve not really got a clue but for regulars I suppose it wouldn’t be a problem.”