If given the go-ahead, new premises would be built at the police headquarters site in Ripley.
Both organisations said the move would enable them to work better together and be more effective.
The costs would be met from police capital reserves and from the sale of the old fire service headquarters.
"Two of the current buildings on the site are more than 40-years-old and have increasing maintenance and heating costs," said police and crime commissioner Alan Charles.
"We have looked at all the options from repair and refurbishment to new build and it is clear that over the lifetime of the building the new build represents best value for the taxpayer.
"At the same time we are seeking to undertake a collaborative building project with the fire and rescue service, which will reduce costs still further."
He added: "Importantly, we are able to fund this from our capital reserves and it will not impact negatively on our current resources for frontline policing."
Other buildings will remain on the site.
The fire service said its share of the costs would be largely met through the sale of its 19th Century building in Littleover.
Additional funding would be sought from government transformation grants for "joint blue light" schemes.
The police and fire service in Derbyshire are considering plans to share headquarters in a bid to improve working practices and save money.