The design and performance of the LUX-ZEPLIN (LZ) detector is described as of March 2015 in this Conceptual Design Report. LZ is a second-generation dark-matter detector with the potential for unprecedented sensitivity to weakly interacting massive particles (WIMPs) of masses from a few GeV/c2 to hundreds of TeV/c2. With total liquid xenon mass of about 10 tonnes, LZ will be the most sensitive experiment for WIMPs in this mass region by the end of the decade. This report describes in detail the design of the LZ technical systems. Expected backgrounds are quantified and the performance of the experiment is presented. The LZ detector will be located at the Sanford Underground Research Facility in South Dakota. The organization of the LZ Project and a summary of the expected cost and current schedule are given.