The area from Oxford Circus down to Selfridges would be closed to all buses and cars to allow people to walk across the full width of the road.
Khan said: 'This is a hugely exciting moment for the capital.
The half-mile section between Oxford Circus and Orchard Street would be traffic-free east-west under proposals from major Sadiq Khan.
London's Mayor Sadiq Khan said the proposals, which are subject to a public consultation, would turn Europe's most popular shopping street into "one of the finest public spaces in the world".
The illustrations show the street bustling with pedestrians, although visibly less compressed than now thanks to the increased space. Cyclists would be required to dismount on this route, while new and extended taxi ranks would be created near Oxford Street for cabs to pick up and drop off customers. The initiative would also create new traffic-free public spaces in the heart of London to rival other world cities such as Paris and NY.
Oxford Street would then be able accommodate a sequence of public plazas lined with trees and benches, in between 25 planned crossings for traffic running north to south across the road.
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There's even talk of a piece of public art to run the length of the new pedestrianised area.
The carriageway would be raised to the existing pavement level and could be decorated with an 800m-long work of public art to create a new public space.
PLANS to pedestrianise the western section of London's Oxford Street have been unveiled. And in May 2016, there was a fatal accident involving a pedestrian.
According to the Mayor's Office TfL has been working since 2016 to reduce the number of buses operating along Oxford Street by 40%. With an expected £1 bn increase in turnover in the West End by 2020 the economic impact will benefit all Londoners as well as the wider United Kingdom economy at a time when we face the uncertainty of a post-Brexit Britain'.
The new plans are set to be in place by December next year, around the same time as the the Elizabeth line services are opened. The opening of the Elizabeth line will see rail capacity in Central London increase by 10% and provides a once-in-a-generation opportunity to tackle the challenges of poor air quality and congestion across the West End'.
TfL held a consultation on the future of Oxford Street in April 2017 and received over 12,000 responses.