Contractor Esh Construction will carry out the works on behalf of Newcastle City Council.
Work will begin underneath the bridge once the Kittiwakes, a protected species, have left the area.
The major renovations will include steelwork repairs, resurfacing, bridge deck waterproofing, parapet protection and bridge joint replacement.
These works will maintain the load capacity of the structures and future-proof the route by alleviating the need for continual ad-hoc maintenance works.
In order to carry the work out, lane closures will be required from next year. This will see the Tyne Bridge reduced to one lane in each direction during a significant part of the refurbishment programme.
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The council has begun looking at options to alleviate congestion caused by the lane closures, such as promoting alternative routes and improving public transport links.
Commenting on the plans, Cllr Nick Kemp, Leader of Newcastle City Council, said: "We are committed to preserving our iconic Tyne Bridge for future generations. For many the Tyne Bridge is a symbol of home and we welcome this progress.
"We are unrelenting in our passion to see our much-loved bridge restored to its former glory, but this will require up to four years of refurbishment due to the huge scale of works required.
"The bridge isn't only an iconic structure, it is also a major gateway to our city and the works will have an impact on the travelling public from next year. We are working hard with transport providers to ensure good public transport links for people travelling in and out of the area.
"I am sure everyone will get behind us due to the huge importance of the bridge to our city and region, as we all want to see it shining proudly in the Tyneside skyline once again."
Reflecting on the potential impact of the works, Cllr Martin Gannon, Leader of Gateshead Council, said: "The Tyne Bridge is an important landmark for the North East and we all want to see this iconic structure brought back to the standard we expect to see.
"We will collaborate closely with our partners to put plans in place to manage the transport network as this refurbishment works gets underway. It will be a proud day when the Tyne Bridge is restored to its former glory."
