United’s proposed £18 million stadium is to be built as part of the Lincolnshire Lakes Project.
The club have agreed a deal with landowners the Lucent Group for a 60 acre plot of land, south of the railway line towards the M180.
A planning application is expected to be submitted on Monday, August 18 with the club hoping to move into the new stadium part way through next season- but the club will have to prove a move part way through a season is a viable option to the FA.
Scunthorpe United chairman Peter Swann said: “It has taken a little bit longer than we would have liked, but there has been quite a bit of work to get to this stage.
“We are very happy with the deal and this is a very exciting time for the club.
“We wanted to be part of the Lakes Project and this will allow us to move into a better stadium and give us the opportunity to create different income streams as we will be working with hotels and gym companies and a few other businesses”.