The Braves have played at Turner Field, which was built for the 1996 Summer Olympics and converted into a baseball-only facility for 17 seasons. The field was renamed in 1997 for Ted Turner, who owned the team from 1976-96.
The Braves' 20-year lease on the facility is up in 2016.
The new ballpark will be near the northwest intersection of Interstates 75 and 285.
"We believe the new stadium location is easy to access while also giving our fans a first-rate game day experience in and around the ballpark and making it a 365-day-a-year destination," John Schuerholz said in a statement.
The Braves say Turner Field needs about $150 million in renovations, including lighting upgrades. The team also said there are issues with lack of adequate parking and access to major roads.
Construction of the new facility, expected to cost about $672 million, is to begin next year. The Braves and Cobb County, the location of the new field, are main investors in the project.