Designs for the 12,000 capacity “Iron Arena” have been drawn up by the Frank Whittle Partnership on a site near its present Glanford Park ground.
The League 2 football club hope to obtain planning permission from the local council before May this year to allow the stadium to open by the 2015/16 season.
The development will also include a 120-bed hotel, a multi-use indoor arena, community sports pitches and crown green bowling facilities.
Frank Whittle Partnership managing partner David Robinson said: “We have worked closely with the club to create modern facilities that will be used by members of the community seven days a week, throughout the year, something we believe is vitally important for modern day sports venues.
“The football stadium we are proposing is really special and the design, with its sweeping curves is striking.”
He added: “It will provide the club and its fans with fantastic facilities and we’ve designed the stands to ensure the supporters are close to the action on the pitch. It gives Scunthorpe United a vibrant, modern new home.
“The community sports pitches and the multi-use sports hall will provide fantastic facilities for people of all ages.”