The teams have been selected from 114 entrants to the Royal Institute for British Architects-run contest.
The eight teams are led by architects Carmody Groarke, Adam Khan Architects, Niall McLaughlin Architects, Terry Pawson Architects, Reiach and Hall Architects, 6a Architects, Sutherland Hussey Architects and Witherford Watson Mann Architects.
The teams are tasked with creating a new museum on the shore of Lake Windermere, which will display its nationally-significant collection of steam launches, motorboats, yachts and other vessels.
In May, the Lakeland Arts Trust secured initial support for a £7.4 million Heritage Lottery Fund bid to support the work.
The teams will now be asked to draw up design proposals for the museum and the final selection process will take place in November.