Old Street Roundabout, EC1, is set for a £25m public realm overhaul to start next year.
Over 1,000 respondents backed the plans at consultation, with work expected to be completed by 2018.
Along with dedicated cycle lanes, the plans improve a new public space created over the western portion of the road.
Mayor of London Boris Johnson said: “We are progressing at full steam with our plans to redesign some of London’s most notorious junctions, and Old Street roundabout is one of the key ones we are determined to completely overhaul as quickly as possible.
These plans will dramatically improve safety for the thousands of cyclists and pedestrians using the junction and also make it easier to access Tech City, which continues to nurture upcoming technology and creative talent from around the world.”
The project is part of a £4bn road modernisation plan from the mayor of London and Transport for London.
