Mr Albanese will tell Indigenous leaders, campaigners and advocates gathered at the Garma Festival in northeast Arnhem Land what many have waited decades to hear: the nation is ready for reform.
His recommendations ahead of a referendum include adding three sentences to the constitution to establish the voice, as a starting point for discussion.
"This may not be the final form of words, but I think it's how we can get to a final form of words," he will say during a speech at the festival on Saturday.
The referendum question put to Australians could be as simple as: do you support an alteration to the constitution that establishes an Aboriginal and Torres Strait Islander Voice?
"A straightforward proposition," Mr Albanese will say.
"A simple principle. A question from the heart."
The news was cautiously welcomed at Garma at Gulkula, a significant ceremonial site on the Gove Peninsula overlooking the ocean from deep within a stringybark forest.
Indigenous academic Marcia Langton said it was good news but there was a lot of hard work to come and she had not fully considered the prime minister's proposal.
"I will wait for an informed opinion from a constitutional lawyer," she said when asked about the recommendation.
Yothu Yindi Foundation board member Djaawa Yunupingu reminded a forum at the festival that Indigenous people had been made many promises in previous generations.
"It has hurt us a lot to hear these promises made to our faces only to see the promises betrayed," he said in a speech.
He reminded the crowd of the work his brother, Galarrwuy Yunupingu, had led across four decades with former prime ministers Bob Hawke, Tony Abbott and Kevin Rudd and the pledges they had been given.
"We watch those words. Those words were wiped away," he said.
"Now we're into 2022. We are hearing words from a prime minister ... understanding the seriousness of the business and I'll be honest, these words are lifting our spirits."
Mr Albanese is undoubtedly aware of the history of Indigenous reconciliation in Australia. He will repeat calls in his speech for bipartisan support and urge Australians to engage on the issue.
"Enshrining a Voice will be a national achievement. It will be above politics," he will say.
The prime minister will also acknowledge the potential for the referendum to fail amid concerns opponents of Indigenous recognition were deliberately creating confusion among the public.
"A referendum is a high hurdle to clear, you know that and so do we," he will tell those gathered.
"We recognise the risks of failure but we choose not to dwell on them - because we see this referendum as a magnificent opportunity for Australia."
If a referendum goes ahead it would be the first in more than 20 years. Only eight out of 44 Australian referendums have succeeded since 1901.
The prime minister is scheduled to deliver his speech at 11am ACST.
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