The proposals ask for the park to be handed over to independent land management charity The Land Trust on a long-term lease. The group will work alongside Friends of Everton Park, who has campaigned for the park to be transformed into "a green inner-city village" since the 1980s.
Construction plans include the building of the Sky Pier visitor centre, a gallery event space and a new café, all designed by local architect Broadway Malyan. The proposals say these additions will bring in £3m to the local economy over a three-year period.
Liverpool City Council said it hopes construction could begin on the Sky Pier as early as next year.
Joe Anderson, Mayor of Liverpool, said: "This is a visionary and exciting scheme which will transform Everton Park into a must-visit destination in Liverpool. This is a project which has been led by the local community in partnership with the city council and other organisations.
"It is their passion and ideas have resulted in a set of ambitious but wholly achievable proposals which we are committed to helping deliver."
Paul Edwards, chair of Friends of Everton Park, added: "As the community partner in the regeneration of Everton Park over the last three years we have really appreciated what great partnership can achieve – the City Council, Liverpool Vision, and our colleagues in the health authority and the Biennial and particularly in the community around the park have been brilliant.
"And we’re looking forward to working closely with the newest partner, the national organisation the Land Trust, who will now do much of the heavy lifting as we take the park forward. Our community will certainly be celebrating a fresh start for the park, fully confident that the Everton Park neighbourhood will become a great place to live, to visit, to work and to play for generations to come."
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