Its customers will be asked for their opinion about future charges and the extent to which they would want better services in return for paying more, as well as about action to protect water supplies from service interruptions and reduce flooding.
The consultation document will outline potential opportunities and challenges such as climate change, population movement and developments in science and technology, the publicly-owned company said.
It also includes measures that could be taken to maintain high-quality drinking water, protect and enhance the environment, and support the economy.
Scottish Water's finance director, Douglas Millican, said: "We put customers at the heart of everything we do which is why we are launching a three-month consultation – the biggest in our history – giving customers the chance to help shape the future delivery of water and waste services in Scotland.
"We want to build on the successes of our first decade with drinking water quality in Scotland, environmental compliance and customer service satisfaction at their highest-ever levels."