The transformation will see the expansion of the East Stand by 8,000 seats.
Leicester City Football Club has submitted its hybrid planning application to Leicester City Council for the proposed development of the King Power Stadium site.
The transformation will see the expansion of the East Stand by 8,000 seats, along with a 220 room hotel, fan plaza and retail store.
A video published by Leicester City Football Club tells fans that the work will create over 1,000 permanent jobs.
The video also predicts that additional match visitors will increase annual spending in the city by up to £10.5 million.
The application will now be determined by the planning committee in the first few months of next year.