The non-league club's ground at Meadow Park was completely submerged by the 2007 floods and they have been unable to play there since.
The new ground will be a completely new build, within the boundaries of the old stadium, and will include flood defences.
The plans will be submitted to Gloucester County Council next week.
Club spokesman Mike Dunstan said: "We have regularly communicated with residents and can say that this flood defence proposal will give substantial and significant benefits to the residents and businesses of the Sudmeadow area.
"GCFC flood risks consultants have been working on this proposal since 2008 with the EA (Environment Agency) to provide the solution."
Since 2007 the club has played home games at the grounds of Forest Green Rovers, Cirencester Town and Cheltenham Town.
Club chairman Nigel Hughes said: "I am especially pleased for our supporters who have, throughout this very difficult time, been wonderfully supportive and extremely patient with us.
"There is still much work to be done but this gives us all a big lift and is something to work towards."
Plans to rebuild flood-damaged Gloucester City Football Club's stadium have gone on display.