It will be built on a site acquired from the University of the West of England on its Frenchay campus.
The football club says that its current Memorial Stadium, home since 1921, “is no longer fit for purpose and does not fit with the club’s aspirations”.
The new stadium will be funded by selling the existing ground to Sainsbury’s for a supermarket and for housing development.
Planning permission is still required for both sites but the club says that it has taken soundings from both local authorities and received favourable responses.
The aim is to submit a planning application in the autumn, be on site by spring, and in the new stadium for the 2013/14 season.
The new stadium is expected to cost £40m to build. It will have a low-profile bowl design, cut into the sloping landscape.
The club had planned to redevelop the Memorial Stadium but decided it was cheaper to move.
Club chairman Nick Higgs said: “The topography of the site suits a cut into the site, and we have managed to design this to make the proposal incredibly economical. If we built the same stadium out of the ground it could double the cost.”
He added: “The beauty of this site is that it is economical to develop.”
The club was relegated to League Two at the end of last season.
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