The new ground will be situated at between Kingswells and Westhill to the west of the city and it replaces a plan to relocate from Pittodrie to Loirston near Cove.
And contrary to the shambles involving the land at Loirston, Aberdeen FC has full control of the site for the new stadium.
The plan is for the stadium to be built within the next three years and the Dons to playing there by the 2019-20 season.
Chairman Stewart Milne told RedWeb: "Kingsford offers an opportunity to locate both the stadium and the training facilities within a single site, as was the original plan for Loirston, and it is in an ideal location for supporters travelling from all areas in and around Aberdeen.
"Crucially, we have full control of the site via a concluded missive with the landowner.
"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.
"AFC and Aberdeen City Council see a new stadium and training facilities as a vital part of the region's infrastructure, and there is a strong desire by the club to deliver these new facilities as soon as possible.
"In terms of the timescale of the proposed new facilities, which are absolutely essential to the future success of Aberdeen Football Club, we plan to have the training facilities operational by 2018, with the new stadium following in season 2019-20."
Aberdeen manager Derek McInnes said: "This is fantastic news for everyone connected to Aberdeen Football Club.
"I've said from the day I arrived here that the one most important aspect where the club needs to drive forward is in terms of its training facilities, so the fact the new stadium is potentially going to be at the same location as these is an added bonus.
"When completed, this will have a huge impact in terms of AFC's ability to attract and then improve players, both in terms of youngsters for our youth academy and also established first team players."