The Northern Territory could be transformed into a multi-billion food producing region under a new CSIRO plan handed to the Morrison government.

The research identifies 370,000 hectares suitable for agricultural crops and 710,000 hectares of coastal land for aquaculture.

The CSIRO estimates the development to create 15,000 jobs and generate $5.3 million annually, in the parts of Australia above the Tropic of Capricorn.