The school, called High Point Academy, is being built on Friar Park Road, in Wednesbury.
The site was once the home of Manor High School which was destroyed by a fire.
Planners are hoping to open the school by September.
When its doors finally open, the educational facility will specialise in helping students with complex needs – including autism and speech, language and communication needs.
The school is being built by Interserve Construction, which won the contract from the Department for Education last September.
Speaking at the time, Simon Butler, divisional director at Interserve Construction, said: "We are delighted to be starting work on these two new special needs education projects, which further adds to our growing portfolio of work in the education sector.
"We are able to draw on a wide range of experience and expertise within Interserve to build outstanding educational facilities by a locally-based team of construction professionals."
The former school site was destroyed in a blaze back in March 2019, where around 50 firefighters turned out to tackle the flames.
West Midlands Fire Service said the blaze caused a three-storey section of the school, which was closed in 2010, to collapse.