Almost 40 years since it was first touted, the Peninsula Link freeway connecting Carrum Downs and Mount Martha will open to traffic on Thursday night.

The toll-free road will shave 40 minutes off the average peak hour journey.

The Premier Ted Baillieu says the road, started by the former Labor government, will attract more tourists to the Mornington Peninsula.

"This freeway will assist many communities to spend less time in traffic and more time with family and friends," he said.

Mr Baillieu said Victorians will be able to travel all the way from central Melbourne to the Mornington Peninsula without encountering a single traffic light.

“Peninsula Link will give people the choice to bypass the nine sets of traffic lights and six major roundabouts that exist on the current route,” he said.

The 27 kilometre road has been under construction since 2010.

It will be fully operational by Friday morning's peak.

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