The Bulgarian-born artist and his wife Jeanne-Claude want to swathe a 10.7km stretch of the Arkansas river in the western state of Colorado with clear fabric.
"Fabric panels suspended horizontally clear of and high above the water level will follow the configuration and width of the changing course of the river," the couple said on their website.
The couple has been planning the giant installation, entitled 'Over the River', for nine years and hope it will stand for two weeks in July and August of a year that has yet to be determined if they win planning permission.
The three to seven metre canopy, which will "create shimmering waves of fabric," will be suspended from steel wire cables anchored on the upper part of the river banks, the couple said.
The flow of the installation, expected to cost around $21 million, will be interrupted by bridges, rocks, trees, bushes and for esthetic reasons, "creating abundant flows of light," they said.
"Wide clearance between the banks and the edges of the fabric panels will create a play of contrast allowing sunlight to illuminate the river on both sides.
"When seen from underneath, standing on the rocks at the edge of the river, at water level or by rafting, the luminous and translucent fabric will highlight the contours of the clouds, the mountains and the vegetation," they said.
But the pair have yet to secure planning permits for the project. They plan to unveil their vision to the public at a meeting next week in the Colorado town of Salida in a bid to win support.
The pair style themselves as environmental artists and pride themselves for removing any trace of their giant artworks, which takes years to assemble and some of which have been visible from space.
Christo's last major display, 'The Gates', was on exhibit for two weeks in New York's Central Park in February. It drew millions of visitors and generated $254 million.
The couple have also swathed a string of 11 islands in Biscayne Bay, off the US state of Florida, with fabric, while in 1991 they opened 'The Umbrellas' miles of umbrellas on the coasts of Japan and California.