The new plan is to cost $3 billion, double the price tag of Transport Quebec's original project, unveiled in 2007.
That plan was widely criticized. Opponents complained it would increase capacity to 320,000 cars, encourage urban sprawl and do nothing to cut car use.
Under the new plan announced Tuesday, car capacity will remain at about 300,000 and a reserved bus lane will be added between Ville St. Pierre and the Ville Marie Autoroute.
New corridors will be added for potential future public transit projects, including an airport train shuttle and a Lachine-downtown tramway.
There will be fewer residential expropriations than originally anticipated; 106 residents will have to find new apartments.
Construction on the new turcot is to be completed in 2018. Officials said they will build the new structures parallel to and under current structures to minimize the impact on traffic .
Built in the mid-1960s, the Turcot - a tangle of highways and access ramps west of downtown Montreal - is where Highways 15 and 20 and the Ville Marie Expressway converge.
In April, Montreal mayor Gerald Tremblay said the the original plan was not good enough.
He wanted a "new vision" that would have included a circular interchange that would take up less space; a tramway linking downtown to Lachine and LaSalle; two lanes for cars, instead of three, dedicated lanes for buses, taxis and carpoolers and a housing development next to a major new green space.
Tremblay was to react to the new plan on Tuesday morning.