AFL ICON Jim Stynes has been immortalised, with the unveiling of the Jim Stynes Bridge at Docklands in Melbourne.

The Jim Stynes Bridge, named after the 1991 Brownlow medallist, is part of a $25 million redevelopment at Northbank in Melbourne's CBD.

The construction, known as a 'hovering' steel arc bridge, is the first of its kind in Australia.

Victorian planning minister Matthew Guy said the unique structure was fitting for an icon of the city and of Australian football.

"I am delighted to open the new Jim Stynes Bridge, a fitting tribute to the memory of this outstanding man, footballer and philanthropist," Minister Guy said.

"This bridge ensures that Jim’s work is alive in the hearts and minds of all Melburnians."

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The minister was joined at the opening by Melbourne lord mayor Robert Doyle, Demon players Nathan Jones, Lynden Dunn, James Frawley and Jeremy Howe, the Stynes family and members from the Reach Foundation, which Stynes co-founded.

Doyle described Stynes as an inspiration.

"Jim Stynes represented the quintessential Melbourne story: a migrant made good," Doyle said.

"His story of settlement in Melbourne, an outstanding AFL career, his philanthropy, charity work and fight against cancer touched us all and I am proud to join the minister and Jim's family in opening the bridge in his honour today."

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Two bronze plaques outlining Stynes' achievements adorn each end of the 120m bridge.