The 500m-long cycleway and footpath is seen as the next stage of redeveloping a disused rail line where the canal meets the River Clyde in West Dunbartonshire.
A 120-year-old swing bridge at Bowling Harbour has been restored as the first stage of the project.
It's part of a Â£3.2 million transformation of the area.
The bridge, which became derelict after the railway closed in 1960, has been repaired and repainted with funding from Sustrans and Historic Environment Scotland.
Scottish Canals is now seeking funding to transform the line into a "linear park" and pathway which it said was inspired by the High Line walkway over a former elevated railway in New York City.
The path will link the canal towpath with a National Cycle Network route between Glasgow and Loch Lomond.
It will feature new viewpoints over the canal and Clyde.
Tom Bishop, Community links manager at cycle path developers Sustrans Scotland, said: “It has great potential to further attract cyclists and visitors, whilst connecting the corridor as a more direct and enjoyable traffic-free route."
Helena Huws, design and development manager at Scottish Canals, said: “Over the past few years, we’ve been working with our partners and the local community to breathe new life into Bowling Harbour, investing more than Â£3.2 million in the area.
"The restoration of the area’s iconic railway bridge to its former glory is the next step in that story and we’re delighted to see the project completed.
“Now we’re looking to deliver the next stages of the masterplan we’ve helped shape with the local community - bringing further investment, employment opportunities and vibrancy to Bowling, and developing a fantastic tourism and leisure destination fitting of the western gateway to the Forth & Clyde Canal.''