The practice hopes to upgrade the facilities and amenities of the site with what it calls "an innovative design that will create a sense of arrival, atmosphere and excitement".
The racecourse takes its name from the Curragh, a 1970-hectare grassland plain in County Kildare, Ireland, which has hosted horse racing for centuries.
Grimshaw Partner Kirsten Lees said: "The master plan provides an opportunity to review the site and the wider offer in a way that cherishes its existing qualities but also enables The Curragh to meet the demands of the future and continue to compete at an international level."
"The integration of the new grandstand into this beautiful setting will be carefully and sensitively handled to establish a connection and balance between the natural and the man-made," she added.
Grimshaw was selected following an international architectural design competition run by the Turf Club, which saw entries from more than 100 architecture firms.