Devon County Council has been awarded more than £5m by the Department for Transport (DfT) to deliver safety improvements on the A361 in North Devon.
The route, which runs between Ilfracombe and Barnstaple, is one of 17 roads in England to be allocated funding from the Safer Roads Fund.
Councillor Stuart Hughes, Devon County Council’s Cabinet Member for Highways Management, said: “I’m delighted that we have been awarded this funding and it will enable us to deliver potentially life-saving improvements on this important route.
“We are looking closely at what improvements could be made at a number of locations along the route.
“While no final decision has yet been made, we are likely to focus on a package of safety improvements which include speed management, junction upgrades, better pedestrian crossing points and improved community connections to the Tarka Trail to encourage future growth in walking and cycling.”