The governing body of the university also approved on Saturday the launch of a School of Public Health from 2018-19, according to a statement from the university.
Located in the Buddhist pilgrim town of Rajgir in Nalanda district, the university currently has two functional divisions: the School of Historical Studies and the School of Environment and Ecological Studies.
It started its first academic session in September 2014 in a makeshift campus.
“A School of Linguistics and Literature will complement the present School of Historical Studies and the upcoming School of Buddhist Studies, Comparative Religion and Philosophy,” said George Yeo, the chancellor of the university.
Yeo, a former foreign minister of Singapore, replaced Nobel laureate Amartya Sen as chancellor last year.
The university has already announced the launch of the School of Buddhist Studies, Comparative Religion and Philosophy from 2016-17.
The fully-residential university will eventually have seven schools for postgraduate and doctoral students, offering courses in science, philosophy and spirituality and social sciences.
The university is an initiative of India and East Asian countries.