The county, which rents the stadium from Leeds Cricket and Athletic Club, announced on Monday plans for moving to a new 32 million pound ground it will own at nearby Wakefield.
The new stadium, which will be match fit by the year 2000 AD, will have a capacity of between 25,000 to 30,000 seats, five practise pitches, a cricket academy and museum in addition to a railway station, marina, and hotel.
The existing Headingley stadium, which also incorporates a Rugby League and Union grounds, has been a cricket stadium since the 1880s, and Test matches have been played here since 1899.
Arguably the most famous game played at the venue was in 1981, when Ian Botham's unbeaten 149 and Bob Willis' eight for 43 haul won the match for England, after the home side was seemingly headed for a humiliating innings defeat against arch rivals Australia.
The Headingley stadium has been attracting criticism from visiting teams of late because of loud, almost violent racist abuse from local fans. These incidents have sparked calls for the ground to be taken off the list of six approved venues in England for international matches.