Mounting repair bills and age led to a call by the city council that the structure had reached the end of its life span.

The cost of replacing the bridge blew out to $4.6 million, but councillors voted to proceed with the much-needed works anyway.

Works will begin on February 1 and are expected to be completed by the end of September.

The new bridge will have dedicated bike lanes and wide pedestrian walkways on both sides, increasing connectivity around the Warrnambool foreshore precinct.

The Australian Government is contributing $2 million towards the project.

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Warrnambool mayor Richard Ziegeler said that replacing Edwards Bridge would be one of the council's biggest infrastructure projects in 2022.

"After more than 120 years, Edwards Bridge has reached the end of its serviceable life," he said.

"In recent years council has spent money repairing and re-enforcing the bridge to keep it operating, and now that we have sourced grant funding from the Australian Government, now is the time to fully replace the bridge.

"We have been in direct contact with nearby residents and businesses as well as emergency services and public transport companies, and they are all aware of the construction schedule.

"In the short-term, Pertobe Road will be the only way vehicles can access the foreshore precinct, but in the long-term, we will have a bridge that will still be going strong into the 22nd century."

In September, the council awarded the tender for the design and construction of the new Edwards Bridge to MACA Civil Pty Ltd.

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