The new purpose-built stadium would be situated at the Centre of Sporting Excellence on Zortech Avenue in Kidderminster, where the Harriers' football academy and first-team train.
As well as a new stadium, the site would include a large training complex for all of the club's teams and also educational facilities.
Kidderminster's current stadium at Aggborough would be an attractive site for housing.
The club believes the new stadium will help establish itself at the heart of the local community and "will provide a boost to the area in respect of employment, educational opportunities and more".
Chairman Colin Gordon said: "Now is the time for us to be thinking about the future. I fully understand and respect that there is a sentiment around Aggborough Stadium as a footballing venue – it’s played big part in my career both a long time ago and more recently too.
"But the simple fact of the matter is that we cannot be at the heart of our community if we’re sat in the middle of a housing estate – the local population is growing dramatically and we just aren’t physically in the right position to offer what we believe a football club should offer its community.
"On a Saturday afternoon we want the entire area to come and watch an attractive, winning product on the pitch, but from Monday to Friday we want people to come and learn with Kidderminster Harriers; to be educated and taught and to develop.
"We want to have artificial pitches that friends and colleagues can use to play football themselves and have the site as a place that acts as a real hub for the community.
"That particular part of Kidderminster is statistically deprived in many ways; lower life expectancy, higher instances of crime and even an increased rate of obesity among young people.
"These are all things that matter to us and while they aren’t things we can cure, they are things that as a football club we have a duty to try and help overcome.
"If we want to grow to become more than just a football team that relies on what the footballing product can generate then this is the only future for us – to be the sustainable, successful team and business that we want to be, this has to happen."