The Department for Transport has approved £34m funding towards the project.
A 2.5 mile stretch of segregated busway will be constructed from the Long Ashton park & ride site in the southwest of the city to the city centre. The dedicated busway will follow former rail routes and will include a new bridge over the Bristol to Portishead railway line. The city centre section will run on existing roads with added bus priority measures including bus lanes and upgraded junctions.
Work is expected to be completed in April 2016.
Transport minister Baroness Kramer said: “The Bristol Metrobus will provide a step change improvement for public transport serving not just in the city itself but also surrounding communities. Buses will be able to get around quickly, travelling along dedicated busways and priority lanes around Bristol and into the city centre. The new link will stimulate economic development and link communities with jobs.”