A mixture of private investment and public sector funding will finance the development; an application will be made for grant aid from the European Union.
Scottish Enterprise Dunbartonshire and West Dunbartonshire Council intend to present the development framework to the council for approval and incorporate it into the forthcoming local plan.
West Dunbartonshire Council leader Andy White said the development would reinvigorate the Clydebank area.
He said: "At the beginning of a new century it represents the opportunity to re-establish Clydebank as a leading location for innovation and to reinstate local confidence."
The masterplan includes the shipyards and extends out towards the Erskine Bridge, embracing six distinct quarters for development.
Director for Scottish Enterprise Allan McQuade said the plan was about giving the river back to the people.
He said the plans aims to bring together the resources and sense of commitment of the public sector bodies, funding agencies, landowners, inward investors and the people of Clydebank to create a truly unique place.