A 20mph speed limit along Peckham High Street is due to go ahead, TfL said on Tuesday.
The change, first proposed earlier this year, is among changes to the busy road which the authority says is needed to reduce road deaths.
It would affect the stretch of road between Basing Court and Mission Place. As the News has reported, there have been three fatal collisions on the road since 2015.
Among them are 48-year-old Jason Bent, who died in a collision with a lorry in January.
Other changes proposed for the busy road include a widened westbound cycle route, and raised road crossings near Bellenden Road, Sumner Road and Rye Lane.
TfL hopes this will encourage more motorists to drive slowly at the crossings. Construction would go ahead later this year, subject to funding from the Department for Transport.
“We’ve listened closely to people’s feedback as part of our consultation and these proposals will make a real difference to people’s safety when walking and cycling along Peckham High Street,” said Sam Monck, of TfL.
“We continue to work closely with Southwark Council on other Streetspace measures to reduce reliance on cars across the borough.”
Among those who submitted objections to the changes, 22 per cent said the scheme was a “waste of money” and 13 per cent said “TfL are penalising motorists for the sake of cyclists & pedestrians.”
But Cllr Richard Livingstone, who holds Southwark’s transport portfolio, said: “We’ve been working closely with Transport for London to bring about improvements to their road, following the tragic events of recent years.
“We fully support the Mayor of London’s Vision Zero action plan and will continue our work to ensure the safety of Southwark’s roads.”
The full changes can be seen by visiting https://consultations.tfl.gov.uk/roads/peckham-town-centre