The vote could come as early as next week.
The five permanent Security Council members -- the United States, Russia, China, Britain and France -- and Germany came up with the recommendations, including an arms export embargo and financial restrictions on individuals and companies connected to Tehran's nuclear and missile programs, reported the Associated Press.
The announcement is viewed as a sign from the veto-wielding members of the Security Council that they are on the same page about wanting Iran to end uranium enrichment.
Iran has insisted its nuclear program is for civilian energy purposes only.
Iranian President Mahmoud Ahmadinejad called the Security Council an "illegitimate" body and said any new sanctions would only encourage Iran to be self-sufficient and further develop its nuclear program, the AP reported.
"Today, the Iranian nation fully possesses the nuclear fuel cycle," Ahmadinejad said at a rally in Ardakan in central Iran, addressing his remarks to western nations, according to state media. "If all of you gather and also invite your ancestors from hell, you will not be able to stop the Iranian nation."
The Security Council voted in December to impose limited sanctions on Iran for its refusal to stop uranium enrichment. The council said it would consider imposing more nonmilitary sanctions against Tehran.
The new measure would freeze the assets of 15 additional individuals, including seven members of Iran's Revolutionary Guard, and 13 additional organizations and companies affiliated with Iran's nuclear program.
The sanctions would be lifted if Iran complies with the council's demands in 60 days.