The major scheme to widen the A453 between M1 Junction 24 and the Nottingham Ring Road was given the go-ahead after completing its final planning stages.
The scheme had originally been earmarked for construction post 2015. It is one of just four schemes set to start in 2012/13.
Roads Minister Mike Penning said work would begin as early as January next year on the scheme which will cost between £141m-£194m and is expected to be completed by late 2014 or early 2015.
The government approved funding for the A453 upgrade, along with five other major road projects in the Autumn Statement. But this was conditional on it completing the statutory planning and order making processes.
The project has been in the offing for many years. Back in March 2006 the Highways Agency announced plans for a £90m upgrade to the road including the construction of a dual-carriageway section between the M1 and Clifton area of Nottingham to ease traffic congestion.
Draft Orders and an Environmental Statement for the scheme were published on 29 January 2009, with the forecast cost rising to £168m.
Construction would have started in 2010, with the road open to traffic in 2012/13, but budget cuts saw the project postponed in May 2010.
This slipped again and as late as December last year, the Highways Agency had been estimating a start date of 2015.