Experts have been enlisted to ensure there are the same amount of trees in the park after the work has taken place.
The plans aim to draw more people into the park by making the entrances more inviting and turning it into an attraction for south London.
The gardens near the shopping triangle would be replaced with a piazza of shops and cafes plus 37 flats.
Money will be invested in improving the walkways making them better for the elderly, young and disabled to walk on, as well as use by cyclists.
A viewing platform and a plant nursery could be in the top section of the park. Some of the old Crystal Palace's features which sit on the terraces will be restored.
The concert bowl will have better sound and backstage facilities, the pond will be made smaller so the audience can get closer to the stage and toilets will be added.
The lake, which can only be accessed by anglers, will be opened up for everyone's use.
The sports centre will be moved next to the athletics track. The athletes' accommodation tower block will be knocked down and replaced by a new building next to Crystal Palace station.
The park cafe would be replaced with a new building. There would also be a visitor information centre which would have details about the Victorian dinosaur attraction.
The museum will be given a new building and the LDA has been in talks with a company to revive the city farm.
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