Proposals include building a new Main Stand at the Tynecastle stadium and increasing capacity to 20,000-plus.
Discussions are already taking place to purchase adjoining land and some areas have already been acquired.
Club owner and chair Ann Budge revealed the plans during a shareholder meeting yesterday, 03 December.
She said: "In case anyone is still in doubt, the Board has decided that Hearts future is here at Tynecastle. I am very confident that by this time next year we will be well down the road in terms of developing our new Main Stand.
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"The first step in making this possible is, of course, to enlarge our footprint. We need more space.
"We are well on the way to securing the land that will make that possible - some land has already been purchased - the remainder is in the final stages of discussion.
"We have outline plans/design/building schedules; we have the backing of all of the key players. Our objective is to put the Tynecastle area well and truly back on the map...as an area of which all of Edinburgh can be proud.
"We will not be releasing any details until I am 100% sure all hurdles have been cleared but I expect to be be able to unveil our plans within a couple of months."
(LM/CD)
