New York governor Andrew Cuomo and US vice-president Joe Biden have announced a $500,000 (€395,000) design contest that will begin in 30 days.
The governor also announced that the plan specifications are yet to be confirmed, which depend on the selected submissions from the design contest.
Bidders will need to show designs that would encompass transportation options, improved amenities and larger footprint for both airports, operated by the Port Authority of New York and New Jersey (PANYNJ).
PANYNJ say they will be allocating $8 billion (€6.3 billion) for construction work at both airports along with Newark-Liberty International over the next 10 years.
This funding will include the $2.2 billion (€1.74 billion) which has been earmarked as part of a $3.6 billion (€2.84 billion) redesign of LaGuardia's central terminal.
Expansion plans also include the construction of a regional cargo distribution hub at Stewart International Airport, located 67 miles north of midtown Manhattan.
This would allow cargo to be diverted from JFK, while also allowing room for the expansion of other services at the gateway.
The six-gateway New York airport system served more than 112.5 million passengers between them last year, up 3.2% on 2012, with LaGuardia and JFK International combined handling 77.1 million.