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Plans have been revealed for a "modern cross-Channel freight service" at the Port of Ramsgate for the first time in a decade.
Multi-million pound proposals are in the works for the 34-acre site to be "utilised to its full potential".
Thanet District Council (TDC) owns the port, which has not welcomed commercial ships since 2013.
The local authority says £9.6 million awarded from the government's Levelling Up fund will be spent on improving the facility.
It is hoped the project will bring more jobs to the area, and establish the Port of Ramsgate as a base for green industries.
The council will now consider calling expressions of interest for a port operator at a meeting on March 2, with the hope one will be found by September.
TDC leader Cllr Ash Ashbee said: "The council has an exciting window to turn around the fortunes at the Port of Ramsgate, and realise the opportunities a commercial operation provides.
"This is a massive opportunity for the district.
"The port is a national asset and we have a responsibility to ensure that we utilise it to its full potential."
TDC has owned the port since 1998, and the lack of commercial operation has led to a financial deficit.
In 2018, Folkestone company Seaborne Freight was awarded a contract to provide additional ferry crossings in the event of a no-deal Brexit.
But the government was forced to scrap the £13.8m contract after the company’s key backers withdrew
The historic port, which dates back to 1850, is currently used by a variety of maritime businesses including an aggregate facility and two offshore wind farm operators.
But there are no commercial shipping businesses, which Cllr Ashbee believes will "unlock new opportunities" for the area.
"It is currently underutilised and in the last decade the landscape has shifted, with changes in the short sea ferry market following the UK’s exit from the EU, as well as increases in fuel and the cost of living crisis," the Conservative said.
"One of the biggest hurdles has been the need for improvement works to the infrastructure of the site.
"The Levelling Up Fund award now means we can undertake the changes needed to unlock new opportunities and propose a competitive process to attract an operator."
In 2021, Thanet District Council secured £19.8 million for Ramsgate as part of the Government’s Levelling Up funding. Some £9.62 million of this will be set aside to improve the port.
"Since becoming leader, I prioritised addressing the port’s operational capabilities and this proposal represents the result of that focus," she added.
"We need to look at how we can do more within the available space, to make it more successful."