The new parkway station would be built on the existing Leeds to Harrogate line, connecting to the wider rail network.
Two other new stations are also proposed at White Rose Shopping Centre and Office Park and at Thorpe Park to support job creation and housing growth along the East Leeds Extension.
The new stations would be part-funded from the £173.5m of Department of Transport funding secured following the decision not to proceed with a city trolleybus last May.
Support from West Yorkshire Combined Authority and private sector stakeholders increases the funding available to in excess of £270m for Leeds.
Full proposals will be released today to be considered by senior councillors at next week’s executive board meeting at Civic Hall and if approved will then go to the Department of Transport for its consideration.
Leader of Leeds City Council Councillor Judith Blake said: “These plans represent a transformational step change for public transport in Leeds.
“Providing a connection by rail to the airport has long been an ambition for the city and this plan will deliver it in a cost-effective way, along with two other new stations at the White Rose Shopping Centre and Thorpe Park to help drive forward job creation, productivity and economic growth.
“These plans all fit with the Department of Transport request that we invest the £173.5m in public transport improvements before the end of 2021, and I am delighted that together with additional funding proposed by stakeholders and private partners we can now do even more to improve transport in our city and make a real difference.”
She added that the council and its partners would continue to consider options for a mass transit scheme for Leeds, but this will require significant additional investment and would not be deliverable by 2021.
Other improvements proposed for the rail network in Leeds would see access enhanced at Cross Gates, Morley and Horsforth stations and car park expansion at New Pudsey to increase its park and ride capacity.
These upgrades will complement improved rail services to Leeds which will see increases in capacity through longer trains and more frequent services, especially at peak times. The outdated pacer units will also be withdrawn by 2020.
Work will also progress in the coming months on preparing the city for high-speed HS2 and Northern Powerhouse Rail (formerly HS3), with the masterplan for the remodelled Leeds Station being developed by Hiro Aso, the lead architect behind the redevelopment of King’s Cross in London.
