Glentoran have submitted a planning application to Belfast City council for a redevelopment of the Oval ground.
The proposal is to demolish the existing spectator stand and replace with two new 4,000 capacity all seater stands, and also develop the terracing at goal ends for 2,000 people.
New turnstiles, additional car parking and improved circulation routes have also been proposed.
It's understood the plan could cost between £8m and £10m.
For the proposed redevelopment to become a reality, government sub regional funding will be required as well as substantial investment from Glentoran's owners.
The plans also include the east Belfast ground's playing surface becoming an artificial 3G pitch.