Located on a 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.
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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."
The council's Planning Committee granted planning permission for the facility, which sits directly in front of the regional sports facility, on 28 February.
Initial funding for the project will come from the Vacant and Derelict Land Fund.
The council is tendering for contractors and expect work to start on site in the spring.
