Tauranga City Council wants to revoke the reserve status of up to 7000sq m of public land to make way for a research centre.
The Marine Park land at Sulphur Point would be leased to the University of Waikato for a marine research and education facility predicted to add tens of millions of dollars to the Bay of Plenty region's economy.
The council will go through a public consultation process, planned for November.
If the council decided to proceed it must get permission from the Minister of Conservation to revoke the reserve status.
The project, which the university has been working on with the council since 2016, has the strong support of the Bay of Plenty Regional Council and economic development agency Priority One.