A total of £1.7 million has been secured from Transport for London for street improvements, it has been announced.
The money will be spent on altering the road layout around Green Walk and Chigwell Road in Woodford Bridge, with signage and lighting improved.
Cycle lanes will also be created along the length of Manor Road.
The announcement was made at an Area 2 committee meeting yesterday at Sir James Hawkey Hall in Broadmead Road, Woodford Green.
The public will also be consulted on a proposal to install pay and display machines in Chigwell Road.
Work is due to start in May 2014 and continue until March 2015.
Conservative Cllr Robin Turbefield said: "This is excellent news. It is really going to make a tired looking area reach new standards. We are all happy we secured the funding and that it is finally happening.
"Most shopkeepers have been contacting me regularly to get something sorted out as it is not looking good, so this will really improve the centre.
"We want Woodford Bridge to become like a village again rather than somewhere you just drive through, and these plans go some way to achieving that."