Melbourne motorists will soon be hit with new road rule that enforces a 30km/h in the city's CBD.

The new speed limit will be enforced in the Hoddle grid in a bid to cut the number of accidents involving pedestrians and cyclists.

The new speed limit will replace the 40km/h limit that was introduced seven years ago between Flinders, Spring, La Trobe and Spencer streets.

The speed limit hopes to stop accidents between vehicles and pedestrians (9news)

It follows a city council review of transport in central Melbourne and will be one of several key recommendations in the City of Melbourne’s transport strategy due for release next month.

Car parking, clogged footpaths and co-ordination of public transport will also be reviewed as part of the strategy.

Research from Monash University found that lowering a 40km/h speed zone by 10km/h reduces by half a pedestrian’s chance of dying when hit by a car.