Although the ORB Action Plan rules out the pedestrianisation of Oxford Street it said its plans would result in the reduction of traffic on Oxford Street, and would introduce wider shopper-friendly pavements.
The plan will be delivered by Westminster City Council, Transport for London, the Mayor's Office and New West End Company.
Sir Simon Milton, the leader of Westminster City Council said: "Wholesale pedestrianisation of Oxford Street is totally unworkable. Our plan is to make the West End more pedestrian-friendly, while ensuring it retains the vibrancy and excitement which sets it apart from cloned malls not just in this country, but around the world."
New West End Company chief executive Richard Dickinson added: "We are delighted that the plan is in place and look forward to helping deliver this shared vision. The blueprint will further improve the area's quality and sense of place, and will ensure the West End remains an international retail destination that inspires everyone who lives in, works in or visits the District."
The ORB Action Plan was inspired by West End Company's original plan for the area, "Choices for a Better West End".