The club say the revamped City Ground would have a "sustainable and iconic" design.
Nottingham Forest have submitted planning applications to increase the capacity of the City Ground to more than 50,000.
The club announced on Monday it had lodged plans to expand the stadium and said it would have a "sustainable and iconic" design.
It comes after plans to expand the ground's capacity from about 30,000 to 35,000 - by demolishing and rebuilding the existing Peter Taylor Stand - were given the go ahead by Rushcliffe Borough Council in June.
The BBC understands work on the new proposals could start by summer 2026 if they get the green light.
Reds owner Evangelos Marinakis has long expressed a vision for a much bigger home for his club.
He previously said Forest one day hoped to turn the City Ground into a 50,000-seat stadium.
In a statement, the club said the ground development would see "significant investment" by Marinakis and added the redevelopment would play an "integral part of the economic growth" of the region.
The club said it was "grateful for the positive public engagement and overwhelming support shown for our proposals ahead of the planning submission".
"We look forward to working with the Mayor of the East Midlands, Rushcliffe Borough Council, Nottingham City Council and Nottinghamshire County Council, as well as our supporters and the wider community, to achieve a successful outcome in the near future," the statement added.
East Midlands Mayor Claire Ward backed the plans at a pre-launch event at the City Ground in December.
Ward previously said she envisioned an upgraded stadium as the "centrepiece" of a "Trent Sports Quarter" including the Trent Bridge Cricket Ground, Meadow Lane - Notts County's home - and the National Water Sports Centre at Holme Pierrepont Country Park.
The Labour mayor said the redevelopment would bring "huge benefits" for the city and wider area.
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