About 800 hectares is involved, with large amounts owned by Tainui Group Holdings and Chedworth Properties.
Both companies are working closely with the council on developing the plan.
The land is a mix of rural and rural residential land, and includes AgResearch and Waikato Innovation Park.
The area is significant because of its scale, strategic links to existing and proposed road and rail infrastructure and has great potential as an area of significant new employment.
A range of land uses are proposed for the area including:
Inland port with freight handling and distribution
A new innovation and research precinct
New residential neighbourhoods
Small-scale retail to support new employees and residents
Open spaces, parks and cycleways.
Development at Ruakura is set to take place during the next 40-50 years with the first stage being an inland port and freight handling area.
This is expected to start within the next decade.
District plan review steering group chair Cr Pippa Mahood says Ruakura is a vital area for development, not only for Hamilton, but for the region.
"It will create jobs and build on what is already a substantial existing employment base.
"We look forward to sharing our plans and encourage anyone within an interest in Ruakura to tell us what you think," Cr Mahood said.