The opening of a new Asda store in Inverclyde would crate somewhere in the region of 500 jobs.
Asda hopes to build a 35,000 sq ft store in Greenock.
Asda said it is consulting residents close to the proposed site and that a formal application notice is being submitted to Inverclyde Council.
Lisa Rooke, Asda's property communications manager for Scotland, said: "We are pleased to be launching our proposals for a new store in Greenock and are keen to hear what the local community thinks of our plans.
"Our proposals would enable us to make a significant investment in the town, regenerating a largely redundant site and generating up to 300 new jobs for local people.
"We believe that the new store can provide consumers with an improved choice on where to carry out their supermarket shopping, as well as bringing Asda's quality products and famous low prices to the area.
"We are looking forward to consulting and working with the local community as our proposals progress and will be undertaking a programme of community engagement in the coming weeks."
