The £20 million project will transform the road into a largely traffic-free zone, prioritising pedestrians and cyclists over cars and buses.

The project will be funded through the city’s visitor levy, alongside improvement works planned for Princes Street and Market Street/East Market Street.

It has been given the go-ahead after councillors on the transport and environment committee voted in favour of the plans on Thursday.

Stephen Jenkinson, committee convener, said: “Our goal is to adapt Edinburgh’s historic city centre to create a safer, more welcoming and accessible environment, while retaining the area’s unique heritage.

“We have several ambitious projects in the pipeline which will deliver the kind of change needed to achieve this, as well as maintaining the Capital’s public transport network. Recent events on Princes Street highlighted how important this is.

“George Street and First New Town is central to these plans, and I’m pleased that we’re now able to progress the scheme alongside other major improvements across the city centre.”

Once the project is complete, cars will no longer be permitted on George Street, with access limited mainly to taxis, essential delivery vehicles and blue badge holders.

A new two-way cycle lane will run through the centre of the street, helping to complete the city centre’s west-to-east cycling route.

The plans will also introduce additional greenery, including trees and planters, alongside new seating areas throughout the street.