The plans would also see a bus gate opened at West Nile Street, with access to Nelson Mandela Place, to help reduce traffic in the area by up to 70%.
It is understood there are also proposals to ban all vehicles, except bicycles, from the section of George Square located in front of the City Chambers.
The Council has said the moves could reduce congestion and pollution in the area.
The existing taxi rank in Dundas Street would also be closed with vehicle access restricted to service vehicles only, while a new taxi rank – with a capacity for nine cars – has been suggested for the south side of West George Street, between Buchanan Street and Dundas Street.
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The east side of George Square, outside the City Chambers, would also be closed to all traffic as part of the order, while an area would be set aside on Cochrane Street between Montrose Street and John Street for tourist coaches visiting the city centre to drop off and pick up passengers.
Councillor Alistair Watson, Executive Member for Land and Environmental Services, said: "This bus gate will see a reduction of around 70% in the current level of traffic.
"As a direct result, there will be a substantial reduction in the degree of congestion and vehicle pollution in the area.
"The reduction in traffic will also lead to improved pedestrian access to the entrance of Queen Street Station and better access for buses to the busy stops on the north side of West George Street."
The plans have now gone out to consultation and the public has until Friday 13 September to lodge any objections to the new traffic restrictions.
(JP/CD)
