The planned hub, which is still at the consultation stage, will be at the Europa bus centre/Great Victoria Street railway station.
The two stations are the busiest in Belfast, with about eight million passengers a year passing through them.
It is expected that figure will rise to 13 million in the next 14 years.
Translink described the Belfast Hub as a "transport-led regeneration project" which will consist of a "world-class transport interchange and surrounding masterplan development".
The site would cover 20 acres from the stations to the Royal Victoria Hospital.
Half of that would be used for an integrated transport hub and the other half would be open to commercial development.
Over the past 18 months, Translink has engaged with local stakeholders to help shape the development proposals and said this latest stage "invites the public to share their views on the proposals".
Launching the public consultation, Translink group chief executive, Chris Conway, said: "The Belfast Hub will ensure we have the right infrastructure in place to attract more people to use public transport and active travel modes, supporting a key outcome of the draft programme for government.
"Along with other key projects, it will enable a transformation in public transport making a positive impact for everyone in Northern Ireland.
"Identified as one of the NI Executive's flagship projects, this impressive new facility will act as a catalyst for regeneration in one of the special action areas designated in Belfast City Council's city centre and regeneration strategy, providing new jobs, investment opportunities and supporting the growth and prosperity of NI."
The public can contribute to the consultation in the following ways:
The consultation stage is open until 2 December.
Translink said a further consultation will take place in 2017 before a planning application is submitted.

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1 September 2015 Last updated at 17:31 BST
Alister Colley, who has a studio in Pateley Bridge near Harrogate, said to hear he had won was "almost unbelievable".
The title means he has become the most sought-after and collected artist in the country.
Colley said creating the official picture for the Grand Depart had put him on "a whole new international platform".
He has now been asked to be official artist for next year's Grand Depart.

A roof will be placed on the tank, which will hold more than 60,000 cubic metres of gas.
The work is being done by the plant's owner Ineos to hold imported shale gas from the US, obtained through the controversial fracking process.
The development of unconventional gas extraction has been halted by a Scottish government moratorium.
Ineos announced plans last year to invest up to Â£640m in shale gas exploration in the UK and use it as a raw material for its chemicals plants.
The company hopes they will eventually be able to use gas that has been fracked locally in future rather than relying on stocks from the US.
The new storage tank is 56m (183ft) in diameter and 44m (144ft) high - 560 double decker buses could fit inside its 108,372 cubic metre interior.
The 330 tonne roof of the tank was lifted into place using a cushion of air similar to a hovercraft.
John McNally, chief executive of Ineos Olefins and Polymers UK, said it was a "landmark day for Grangemouth".
He said: "We know that US ethane has transformed US manufacturing and now Scottish industry will benefit as well.
"This will secure a cost-effective supply of ethane for the next 15 years, and give a sustainable base for Grangemouth for that time."
Ineos has They have started a community consultation process to try to win support for fracking.
The firm said it was unconcerned about the moratorium and a spokesman promised to drink "a lot of tea in a lot of village halls" to try to win the argument.
However, Friends of the Earth Scotland director Dr Richard Dixon said: "We strongly suspect Ineos' plans for fracking in Scotland would result in blighted communities, with planning permissions sitting unused for years.
"The last thing anyone wants is to have a site next to their home where fracking may happen at some unspecified time in the future.
"Communities could have to wait until nearly 2030 to find out if they are going to be fracked or not.  This threat of blight is another good reason for the Scottish government to decide that fracking has no place in Scotland."
Translink is consulting the public on proposals for a new transport hub in Belfast city centre.
[NEXT_CONCEPT]
An artist who painted the official picture for the Tour de France's Grand Depart from Yorkshire in 2014 has won the accolade of Best-selling Published Artist 2015.
[NEXT_CONCEPT]
Work to complete the biggest shale gas tank in Europe is continuing at the petrochemical plant in Grangemouth.