The Kingsford site near Westhill is close to the new Aberdeen Western Peripheral Route (AWPR) which is currently under construction.
The club had previously been considering a plan to move from its current site at Pittodrie to a site at Loirston in Aberdeen.
But club chairman Stewart Milne said that "since Loirston was previously identified as our site for the new stadium, there have been various changes in circumstances and furthermore the development of the AWPR will now provide easy access to the new site at Kingsford."
Kingsford, he added, "offers an opportunity to locate both the stadium and the training facilities within a single site and it is in an ideal location for supporters travelling from all areas in and around Aberdeen."
The club, he said, has "full control of the site via a concluded missive with the landowner" and "extensive site diligence has already been carried out at Kingsford to establish the feasibility of the land area and also the requirements for the planning process."
A club statement said that a 12-week public consultation for the new building will begin shortly after which a planning application will be submitted to Aberdeen City Council with the final outcome expected before the end of the year.