The supermarket giants, who acquired the land in 2006, hope to build a small store in the south-western part of Newtonhill, to cover 1,475 square metres, as well as a 105-space car park.
Newtonhill, Muchalls and Cammachmore Community Council have organised a meeting at the Bettridge Centre on Sunday October 12 from 2pm until 4pm, to allow people to find out more and give their opinions on how it will affect the community.
Rhoda Nelson, chairperson of the community council, said: "There are always people for and against this kind of thing. The matter was discussed at the community council meeting, and it was the view of the councillors that we should get the views of the entire village.
"We are having a meeting at the Bettridge Centre and there will be a couple of representatives from Tesco present to answer any queries. It would certainly be a big thing for Newtonhill."
Newtonhill's population has grown to 3,000 in recent years, and if given the go-ahead, the store, which is described by Tesco as their "smallest free-standing store format", would create 134 full and part-time jobs in the area. As well as this, it would reduce the need for residents to travel out of the village for their weekly shop - an advantage which has been welcomed by locals who have commented on www.newtonhill.org.uk., where the proposed plans have been described as an "asset" to the village.
Some Newtonhill residents haven't welcomed the plans, however, and there have been concerns about the increased traffic and noise that it would bring to the small community, as well as the impact on existing stores in the village.