The park is expected to cost around $700 million to build and will cover around 151,000m2.
It will include a 2,000 seat esports venue, office buildings, exhibition centre, and residential buildings.
The park will be home to multiple esports-related projects such as product design, team development, talent construction, and user experiences.
NetEase CEO Lei Ding said at a ceremony to mark the start of building work that the project only took one year, from blueprint to groundbreaking.
As well as being a distributor of Blizzard titles, NetEase owns the Shanghai Dragons, an Overwatch team which represents Shanghai in the Overwatch League.