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 requirements for the telescope pointing accuracy and stability, autonomous mirror surface control, large format detectors with small size pixels, and cryocooler's long life, and 2) incorporate artificial intelligence into the spacecraft systems to provide extensive autonomy and fault detection/correction ability.