Michael DiRienzo, chief executive of Hunter New England Local Health District, said the NSW Government's John Hunter Health and Innovation Precinct - which includes a $780 million investment in John Hunter Hospital, would "significantly" benefit the region.

"The development of the Health Precinct will include a significant expansion of the John Hunter Hospital and John Hunter Children's Hospital, providing additional capacity to meet the growing demand of the greater Newcastle area, Hunter, New England and northern NSW regions," he said.

He said the plans showed new and expanded health services and facilities, including a new emergency department and improvements to critical care.

"The Precinct will also create new opportunities for education, training and employment for staff and the broader community."

Minister for Health and Medical Research, Brad Hazzard, said the "world-class" health precinct would be a key driver for economic growth and jobs for the Newcastle, Hunter New England and northern NSW regions.

"The Master Plan, the result of a collaborative effort between health, education and research experts, will ensure that the people of the Hunter get the very best health care possible for decades to come."

The Master Plan was developed after a workshop hosted by Mr Hazzard in September, 2018, with more than 60 health, education, research, business and political leaders.

The redevelopment would also include increased interventional and imaging services, expanded inpatient units, and enhanced ambulatory care services.