The rail line will be raised over the road on the Mernda line, delivering new open space and better local connections for the community.
The project will also deliver two new stations at Preston and Bell. The four level crossings will be removed simultaneously to minimise disruption to the community.
Around 82,000 vehicles pass through these level crossings on the Mernda line each day, with the boom gates down for up to 40 per cent of the morning peak.
Construction is expected to start in 2020.
On behalf of the Victorian Government, the Level Crossing Removal Project is overseeing the removal of 75 dangerous and congested level crossings across Melbourne by 2025.