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The project will help protect homes, businesses and people from rising sea levels for decades to come. It also aims to improve Mumbles as a destination, with new lighting, bins, seating and better links to Mumbles Road.
Work will see parts of the prom closed to the public in a phased manner throughout the work, expected to take around 18 months.
Access to homes and businesses will remain throughout and it is planned that work next to businesses abutting the prom will not take place in the peak tourist season.
Construction noise is likely throughout the major project although it is planned that this will be in daytime where possible.
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The main contractor is due to move on site soon, initially setting up a compound close to the prom and the Oyster House hotel.
The council and its contractors plan to keep the public and businesses informed with face-to-face drop-in sessions, newsletters, and updates online and in the press.
Last month council officers updated a number of businesses close to the prom and some community groups. Regular updates will follow.
Council cabinet Andrew Stevens said: "We're addressing the condition of the Mumbles seawall and the community's long-term flood risk.
"Visual improvements will create a greener, sustainable and attractive waterfront - an asset to the local community and an attraction for visitors.
"The aim is to be sensitive to Mumbles as a seaside visitor destination while protecting people and property."
Some existing defences are in a poor condition and at risk of flooding. The flood risk level is expected to increase in the future due to predicted sea level rises.
A lack of action would put a number of homes and businesses at risk of flooding.
The 1.2km project - from Knab Rock slipway to Oystermouth Square - has been shaped with the help of extensive public consultation. The plans show more space for pedestrians and cyclists to share the prom with care, the protection of trees and more opportunities for play and relaxation.
