The development at Thainstone, near Inverurie, could create hundreds of jobs.
ANM Group said the new business park - with new office buildings and parking - has been in the planning for several years.
Life at Thainstone was the focus of a six-part BBC Scotland behind-the-scenes documentary - The Mart - earlier this year.
It featured those who work there and the farmers who rely on the auctioneers to help sell their livestock.
ANM Group chairman Pat Machray said: "The proposed expansion of Thainstone Business Park has been in our plans for a number of years and is the next natural step for the site.
"In 2012, the local area plan allocated this land for development, and we are thrilled to see it finally beginning to take shape.
"We have been a major employer and contributor to the north east economy for more than 140 years, and as a farmer-owned co-operative, we continually strive to improve the business to provide the best service for our 5,000 members and 20,000 customers."
If approved, work is due to commence later this year, with the first building due for completion in early 2018.
An Aberdeenshire mart is set for a £4m expansion.