The project will improve links for businesses in the Darlaston and Pleck areas and is expected to contribute to the creation of thousands of jobs in the Black Country Enterprise Zone.
Work to widen the junction at Darlaston Road (A4308) and Bescot Road (A4148) near to junction 9 of the M6 will start at the end of September.
The Department for Transport has agreed to provide £14.3m towards the full project cost of £25.9m.
The junction, known locally as the Brown Lion junction, will get new traffic signals, a widened carriageway and extra lanes on three of the approaches.
Between 2009 to 2013, canal and railway bridges were rebuilt to enable lorries to use Bentley Road South as a main arterial route between Darlaston and Bentley.
Walsall Council is expected to appoint a highways contractor for improvements to Bentley Road South and Bentley Mill Way in the next few weeks.
A new roundabout with improved crossing facilities will be installed at the junction of Bescot Road (A461) and Wallows Lane (A4148) next Summer.
Completion is expected by February 2016.