Located on the former steelworks site, the park will include a play area, sensory garden, visitor hub with a disabled toilet and changing facility, events area, a network of walking and cycling routes, a multi-sports pitch and an outdoor gym.
A feature path will be created along the line of the historic steel strip mill.
The play area will have climbing walls, swings, trampolines, bouncing discs, a climbing tower, zip slide, talk tubes, balance beams and posts, incorporating accessible facilities for children and young people with mobility issues.
Seating areas will surround the play area and be located throughout the park.
Councillor Allan Graham, convener of the Enterprise and Growth Committee, said: “This new park will bring a significant area of greenspace to the Ravenscraig site, creating an exciting new facility for the local area.
“The park is designed for everyone in the communities in and around Ravenscraig, giving a focal point for the area as the site develops with new housing and facilities.
“During the consultation last year we listened to the views of local people and have adapted our plans to reflect what residents would like to see in the park.
“We believe the park will be a popular place for families, community groups and local schools to meet, play and enjoy.”
North Lanarkshire Council’s planning granted planning permission for the facility, which will sit next to the regional sports facility, last week.
Motherwell South East and Ravenscraig councillor Nathan Wilson said: “It’s great news that this important part of regenerating Ravenscraig has now been given the thumbs up subject to the planning conditions being met.
“I attended a consultation event on the park and greenspace proposals towards the end of 2018 and I was very excited by the plans presented.
“The facility will add to the growing body of development on the site including the Ravenscraig Regional Sports Centre, New College Lanarkshire, the Raven’s Cliff Hotel, the existing housing and the new housing estate being built by Taylor Wimpey.
“The urban park project is a highly commendable endeavour and I very much look forward to the waste ground south of the sports centre being converted into a fantastic asset for Ravenscraig”.
Initial funding for the project will come from the Vacant and Derelict Land Fund.
The council is tendering for contractors and expects work to start on site in the spring.