Fraserburgh-born Blake Glover arrived in Nagasaki in 1859, helped found Mitsubishi, and contributed to the modernisation of Japan.
Aberdeen City Council wants to turn Glover House into an "ideas hub".
The proposals will go before the council's finance, policy and resources committee on Tuesday.
Council leader Jenny Laing said: "Thomas Blake Glover is regarded as the founder of modern Japan and here in the north east we remain very proud of his achievements.
"By transforming his family home in the Bridge of Don area into a research and development facility for future industries and technologies, we are potentially developing ideas which will help us diversify our own economy and attract inward investment.
"It will also help us cement partnerships with Japanese companies.
"Our aim is to use the home of the Scottish Samurai as a springboard to widen our skills base and to encourage innovation as we look to the years beyond North Sea oil and gas."
Mitsubishi gifted Glover House to Grampian Regional Council in 1996.
The property is now under the control of Aberdeen City Council.
The Aberdeen family home of the so-called "Scottish Samurai" Thomas Blake Glover could be turned into a £2m research hub.