The federal government says it will take the next 120 days to determine if the plan will work.
Parks Canada says its goal is for a successful outcome that will lead to a long-term financially and operationally successful business.
It says the ski hill would have to deliver exceptional experiences, creates unique educational opportunities and protect the environment.
Parks Canada did not reveal the company or people behind the proposal.
The government leased land in the park for a ski hill that opened in 1961, but it stopped operating in 2000.
Parks Canada says 98 per cent of Riding Mountain National Park is designated wilderness, but Mount Agassiz continues to be defined as a commercial ski area in the Canada National Parks Act. (CJOB)