Federation Square is set to be assessed for heritage protection in an "unprecedented" step that could significantly affect major projects planned for the site, including the construction of a new Apple store.

Heritage Victoria will announce on Wednesday that it will accept a nomination for assessment to include Federation Square on the Victoria Heritage Register. The nomination for the assessment was received on July 20.

New designs for Apple's flagship store in Melbourne's Federation Square were also released to the public on July 20.

An aerial view of the new design for the Apple store in Federation Square. Credit:Federation Square

The National Trust of Australia's Victorian division said it had nominated the CBD landmark for the Victorian Heritage Register to recognise its "historical, architectural, aesthetic and social significance to the state".