Melbourne Airport says its plans for a third runway, new road and a rail link will help the city cope with a doubling in passenger numbers.

The plans for a third runway, to the south of the current runways, were unveiled in the airport's draft master plan, which was released for public comment on Monday.

The Australian Associated Press said the new runway would mean more aircraft noise for thousands of residents in the suburbs of Gladstone Park, Jacana and Broadmeadows, according to projections on the Melbourne Airport website.

The master plan also proposes an elevated loop road around the airport, in an effort to reduce traffic congestion.

Melbourne Airport chief executive Chris Woodruff said the airport must prepare to have 64 million people fly in and out of Melbourne by 2033, more than double the current figure.

"Melbourne Airport is about to embark on the most significant period of growth since it opened in 1970," Woodruff is quoted as saying.

The plan supports the construction of a rail link but does not expect one to be built within the next five years.

The public has 60 days to comment on the draft plan.