The Olympic Museum in Lausanne, Switzerland, is to undergo US$50m (£31m, 35.6m euro) of expansion works over the next two years.
The museum, which overlooks Lake Geneva, already holds more than 10,000 artefacts.
The International Olympic Committee said in a statement that the project involves "considerable work to the building to bring it into line with the latest norms in terms of safety, respect for the environment and working conditions".
If the plans are accepted by Lausanne City Council, the work will begin in 2012 and take approximately 20 months to complete.