The new 16-lane bowling centre is the first venue to be confirmed for the new development, which is expected to open on the site of the former indoor market in 2024.
Preston City Council said Hollywood Bowl will boast computerised lanes with "plush seating, a stylish bar and diner and a cutting-edge amusement area".
More tenants are expected to be confirmed in the coming months, said the Council, including an operator for a multi-screen cinema, as well as restaurants and bars.
Subject to planning permission being granted, it is anticipated construction work on the project could begin in 2022 with the complex opening in spring 2024.
The Council said the Animate complex will bring growth and development to the city centre, and should generate around £7 million in extra economic activity every year. It is also expected to create around 140 full time (equivalent) jobs.
Maple Grove Developments recently submitted a planning application for the Animate scheme and said it plans to reveal further tenants over the winter months.
Councillor Matthew Brown, Leader of Preston City Council, said: "Welcoming Hollywood Bowl on-board the Animate scheme is a really positive step forward in our plans to bring this exciting city owned development to Preston for the whole community to benefit from.
"As well as bringing investment and jobs to the people of Preston, this key anchor operator will help support the regeneration of our city centre.
"This major family attraction is a first for the city centre and will complement our existing leisure offer.
"It will bring people into Preston and further support our strongly established small business community."
Laurence Keen, chief financial officer of Hollywood Bowl Group, added: "We are pleased to have secured another prime, high footfall destination to enable us to continue to execute on our new centre opening strategy.
"We’re delighted to be bringing the Hollywood Bowl brand to Preston and to be a part of the exciting development of the Animate leisure complex."
Andrew Dewhurst, director of Maple Grove Developments, commented: "We’re delighted to have secured Hollywood Bowl as the first named operator for Animate.
"This exciting news contributes massively to Preston’s goal of creating a thriving, sustainable city centre with an outstanding leisure and entertainment offer."