The proposed 330,000 sq.ft extension will include a café court, restaurants, new cinema complex, gym and space to offer ten-pin bowling and indoor golf.
Housed under a glazed rood, the site has also been designed to host events including live music.
The plans – put forward by developer British Land - represent one of the largest investments in Sheffield for a decade and will create over 1,000 jobs.
Charles Maudsley, head of retail and leisure for British Land, said: “We are continuing to drive Meadowhall’s evolution to ensure it remains an outstanding place for modern consumer lifestyles.
“This significant step change in the scheme’s leisure provision will contribute to Sheffield’s continuation as a driving force behind the Northern Powerhouse.
“This is a very exciting time and we look forward to working with Sheffield City Council to help ensure Sheffield’s future success.”
A detailed planning application for the Leisure Hall will be submitted in late summer 2016, following extensive consultation with local stakeholders.
If the proposals are approved construction will begin in 2018 with the site opening in late 2020/early 2021.
The plans will be on display at Meadowhall on 3 June (11am to 6pm) and 4 June (10am to 4pm).
More details on the proposed scheme can be found at: www.FutureMeadowhall.co.uk.