The restaurant which was opened 32 years ago is being closed to make way for the Newcombe House property development by Brockton Capital and U+I, which includes the building that houses Kensington Place.
Following the closure, the majority of staff are expected to transfer employment to other restaurants within the D&D London group.
Des Gunewardena, CEO and chairman of D&D London, said: “Kensington Place has had an illustrious history since it first opened in 1987. It was one of the restaurants that kickstarted the renaissance of London restaurants and we have been its proud owners since 2007. We will miss Kensington Place dearly and we hope that many of our customers and friends will join us in our last few weeks to wish KP a very jolly goodbye.”