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This paper presents a conceptual design of a next generation large space telescope. A 8-m aperture telescope orbiting Earth at an altitude of 134,000 km would offer dramatic improvements over the Hubble Space Telescope (HST) in sensitivity, resolution, spectral range (1.2 micrometers - 40 micrometers ), sky coverage, and viewing efficiency. The proposed design is characterized by an effective solar shield, inflatable space-rigidized bottom sunshade, lightweight actively controlled primary and secondary mirrors, lightweight telescope shell, and relatively low overall mass (near HST mass). Initial thermal analysis indicates that very low- mirror temperatures can be achieved by purely radiative-cooling schemes, thereby allowing to extend spectral operating range to mid-IR wavelengths. The design presented assumes that research and development over the next decade should make it feasible to: 1) satisfy …