Under the plans, a new third lane will be added in both directions between the Catcliffe junction and the M1, as well as changes to the A630/M1 roundabout.
A reduced speed limit of 50mph will also be introduced to improve air quality.
The aim is to reduce congestion and improve journey times between the Catcliffe Interchange, the Advanced Manufacturing Park and Junction 33 of the M1 and will support housing and employment growth around the Advanced Manufacturing Innovation District and Waverley New Community.
Roads Minister Baroness Vere has confirmed £42m is being released to fund work on the mile-long stretch of road.
The delivery costs of the scheme are currently estimated at £46m. Balfour Beatty secured the design and build project through the Scape civils framework.
The project is expected to be finished by summer 2022.