Work will begin early next year to widen a "major choke point" near Melbourne's busy sporting precinct.

The Victorian Government has announced plans for a $30 million project to widen the Swan Street Bridge to five lanes.

Under the plan, there will be two lanes going straight ahead over the bridge into Swan Street, one lane turning right and two lanes going towards the city.

For years there have been traffic snarls on the bridge with people in the right-turn lane trying to move over into the left hand lane to go straight through.

There will also be separate extensions on either side of the bridge for pedestrians and cyclists

The problem often causes long queues back on to Alexandra Avenue and is a particular problem during the evening peak.

Drivers expected to save five minutes on commute

About 30,000 cars, 1,300 pedestrians and 1,000 cyclists use the bridge every day making it one of Melbourne's busier intersections.

The upgrade, scheduled to start in early 2017, is expected to save drivers about five minutes on their commute.

But Roads Minister Luke Donnellan said it was worth the money.

"It's a major sporting precinct and obviously it leads to major cultural precincts with the Arts Centre and the museum," he said.

"It's a major choke point in Melbourne. We don't have a lot of river crossings and this is an important one."

Victorian Premier Daniel Andrews said the upgrade would make the bridge more efficient and safe.

"This is a notorious bottleneck and we are fixing it," Premier Daniel Andrews said.

"We are getting it done because we are not wasting any time having provided the money last year, done the work over the last 12 months."

Mr Donellan said it would also be safer for pedestrians and cyclists.

"It will actually be a more efficient journey and separated [from cars], which is what people are looking for who are riding and walking," he said.

There will also be some minor works done by VicRoads in front of Road Laver Arena to ensure there are two lanes of traffic for the cars coming over the bridge.

The works will cause some traffic disruptions, the minister said.

"We will minimise [disruption] as much as we can so that we get the work done and provide people with a better passage in the future," he said.

Expressions of interest on the design proposal will be made public on May 18.