The artist's impression shows the bridge will retain the series of wide arches underneath with new metal ribs jutting out to support the railing.

BKK Architects won the contract for the new $30 million upgrade

The bridge, on one of Melbourne's busiest thoroughfares, will include an extra traffic lane. It will also gain separated shared paths for cyclists and pedestrians on both sides.

The bridge is used by Melburnians to reach some of the city's most well-loved venues, including the MCG, Royal Botanic Gardens and the Sidney Myer Music Bowl.

Roads Minister Luke Donnellan said the government had listened to the community about how the bridge should look.

"This design will give Swan Street bridge a modern makeover without losing its existing charm," he said.

The RACV's general manager of public policy Brian Negus has previously described the bridge as "massively congested". He called for two lanes of car traffic to be reinstated for motorists heading east off the bridge.

One report on the bridge by engineers Parsons Brinckerhoff recommended removing the footpath on one side and building a separate footbridge.

More than 34,000 vehicles cross the bridge in both directions every day.

Three firms have now been short-listed to submit tenders to win the upgrade contract, which will be awarded by the end of this year. Construction is set to begin in mid 2017.