The Sydney Fish Market will be transformed to provide greater public access to the city's prime waterfront land, under new plans unveiled today.

Expected to open in 2023, the new fish market will be built at the eastern end of Blackwattle Bay — adjacent to the current site — and extend out across the water.

The building will house food kiosks, restaurants and bars, as well as an expanded seafood cooking school, and feature a timber and aluminium roof inspired by fish scales.

Outdoor areas will include space for social events, a waterfront promenade, new public wharves and a ferry stop.

A waterfront promenade, public wharves and a ferry stop feature in the new design. ( Supplied: NSW Government )

Plans for the new fish market — and its expected $250 million price tag — were announced in 2016, while Danish architects were last year selected to design the new facility in partnership with Sydney firms BVN and Aspect Studios.

NSW Premier Gladys Berejiklian said the building would be the centrepiece of Blackwattle Bay and provide panoramic views of the Anzac Bridge.

"Relocating the fish market to the new site will return Blackwattle Bay's foreshore to the public, improve pedestrian and cycling links and connect more of Pyrmont to the water as part of the long-awaited revitalisation of the area," she said.

Ms Berejiklian said the current fish market attracted more visitors annually than the Great Barrier Reef and was the largest fish market in the southern hemisphere.

The fish market will continue to operate as normal during construction, which is expected to begin mid-2019.