Luton Rising, the Luton Council company that owns the airport, said the plans include community funding proposals that, in time, could provide an additional £14m every year for communities across Luton and neighbouring areas.
Consent is being sought to build a new terminal, a major programme of earthworks to create an extension to the current airfield platform and new airside and landside facilities.
The airport owners also aim to enhance the surface access network and extend the Luton DART.
It also wants to progress further infrastructure enhancements and initiatives to support the target of achieving zero-emission ground operations by 2040.
The proposals have been shaped by an extensive consultation programme stretching across more than four years.
Luton Airport’s Development Consent Order application comprises 198 documents, containing just over 25,000 detailed pages of proposals and plans.
Graham Olver, chief executive officer of Luton Rising, said: “We’re pleased to bring forward these proposals for the expansion of London Luton Airport – we aim to enhance economic activity in and around Luton, provide numerous community benefits, and make the airport a leader in sustainable aviation.
“We now wait in anticipation for the Inspectorate’s decision as to whether we proceed to the examination stage of the DCO process.
“We hope that this will mark the start of the next phase of our commitment to grow London Luton Airport and help to deliver the employment, prosperity and positive social impact for Luton and neighbouring communities that they so richly deserve.”