The planning application for the Sunderland Strategic Transport Corridor Phase 2 project and the landmark bridge over the River Wear between Pallion and Castletown was lodged in December 2009.
Subject to further necessary permissions, construction work could begin early in 2012 with the roads and bridge open by 2015.
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Janet Johnson, Deputy Chief Executive of Sunderland City Council, said: "Receiving planning permission is another major step forward in delivering the bridge project for Sunderland. This is a project that will bring significant benefits to the city by easing congestion, opening up new areas for regeneration and more jobs, and providing a new landmark for Sunderland and the North East.
"The City Council and its partners can now move to the next stages of the project – securing ownership of land and approval from the Department for Transport to obtain tenders in 2011 for construction the following year."
The design of the bridge came from local architect Stephen Spence and structural engineers Techniker.
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