HOBOKEN—Stevens Institute of Technology is launching a 10-year expansion plan that it hopes will sharpen the engineering school's focus and enlarge its undergraduate student body by nearly 60%.

The proposal, to be unveiled Friday, includes a stronger focus on technology, hiring 100 professors and expanding undergraduate enrollment to 4,000 students from 2,550 currently. It is expected to cost at least $400 million to implement by 2022.

Stevens...