Auckland Council is proposing a major revamp of the city's downtown waterfront, which develops a new cruise ship wharf and removes the smaller Marsden Wharf.
The option selected in the council's central wharves strategy also backed the port company being allowed to extend the Bledisloe Wharf cargo terminal further into the Waitemata Harbour.
The plan extends Captain Cook wharf to cater for the larger latest-generation cruise liners, which were expected to visit Auckland within five years.
The current main cruise ship terminal at Princes Wharf would become a back-up facility, and Queens Wharf would become public space.
The port company favoured the plan under which it would lose the use of Captain Cook and Marsden wharves for general cargo, but could extend Bledisloe Wharf.
The council said the money brought in by the cruise ship industry could almost double, to $300 million, if the right infrastructure was put in place.
But City Centre Integration General Manager Rick Walden said the city was not ready to make that happen.
"Cruise liners are currently around the 250 to 300 metre mark, that's the length," he said.
"The new ones will be 350 metres long. At the moment, we cannot accommodate those vessels. They will be here within five years."
The proposals goes to councillors on Thursday.