Social Development Minister Margaret Richie called on local people to express their views on the proposals.
The draft plan identifies key town centre sites for redevelopment and regeneration along with the most appropriate form and timing of the works.
Emphasis has been placed on regenerating the Historic Core, Castle Esplanade, Irish Quarter, Joymount and the Waterfront area, all within the town centre.
Proposals have also been put forward to strengthen connections between the Irish Quarter and the town centre, incorporating green links and highlighting the gasworks museum.
A new network of streets from the Joymount area to the Waterfront to boost maritime and leisure activities has been detailed in the plans.
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DSD said it also hopes to upgrade the Castle Esplanade area.
Minister Ritchie said: "I believe the masterplan provides us with an ambitious yet realistic vision that will make best use of the town’s iconic assets, whilst protecting its ongoing success and prosperity."
She concede it will prove "quite a challenge" in the current difficult economic climate.
"However, I am encouraged by the willingness of the private sector to get involved in the process through the Carrickfergus Development Company.
"I trust that the development opportunities will be taken up in the coming years, thereby increasing the economic vibrancy of the town and helping to promote Carrickfergus’ proud heritage," added the Minister.
Carrickfergus Mayor Patricia McKinney welcomed the consultation's launch.
"We hope that this consultation gives everyone in the town the opportunity to have their say and I would encourage everyone to give feedback so that the plan can truly contribute to making Carrickfergus a better place to live, work and visit," said the Mayor.
Jack Creighton Chairman of Carrickfergus Development Company acknowledged the contribution of the local business community.
"The Carrickfergus Development Company believes that this plan offers a unique opportunity to make Carrickfergus an exciting and unique place to shop, live and visit.
"I would encourage everyone with an interest in Carrickfergus to come and view the proposals and to have their say," Mr Creighton added.
(PR/BMcC)
