The development may pave way for former Deputy Chief Minister Ajit Pawar's re-entry into the cabinet.
The white paper would be a status report and not an investigation report, sources said.
The irrigation potential has risen to 47.50 lakh hectares in 2010 from 37 lakh hectares in 2001, an increase of 28 per cent, as per the white paper, the sources said.
The rise in irrigated area has been a record 72 per cent at 29 lakh hectares, they said.
Earlier this year, Chief Minister Prithviraj Chavan had announced that government would come out with white paper on irrigation.
After approval by the state cabinet, it would be tabled in the state legislature during the winter session starting at Nagpur from December 10.
Ajit Pawar, an influential NCP leader, had quit the cabinet following allegations of a huge scam in irrigation projects. The irrigation portfolio has always been with NCP.