Transport for Greater Manchester is understood to have secured £15m from the Government's Cycle City Ambition Grant programme to encourage more people to get on their bikes.
The money will be used to invest in a network of cycle lanes and cycle-and-ride bike parks.
Transport for Greater Manchester, which bid for £20m, has drawn up a 12-year cycling strategy, called Velocity 2025, on behalf of the Greater Manchester Combined Authority.
The aim is to make cycling mainstream cycling and increase the number of people cycling by 300% by 2025.
TFGM says the grant could unlock further cycling investment for Velocity 2025 worth £150m to £200m from public and private partners over a ten-year period.
Velocity 2025 includes a new network of cycle routes, some integrated and some segregated from other road traffic linking employment centres, schools and leisure facilities.
The destinations involved in the planned network include Ashton-under-Lyne, Prestwich, Manchester Airport, Stockport town centre, Media City UK and Wilmslow Road to East Didsbury.
Cycle-and-ride facilities are now expected to be developed to help people connect with Metrolink and rail services from the outskirts of the regional centre.
There could also be a programme of cycling promotion and education inspired by the success achieved with similar initiatives in Germany and augmented by strong partnerships with organisations such as British Cycling, Sustrans, CTC and local cycle groups.