The overhaul includes ambitious cycling infrastructure projects, a trial of a city "hopper" bus and car-free streets in the Old Town.
Project director Daisy Narayanan said the vision had "a head in the stars, feet on the ground approach". She said: "Phase one of the project we have funding for already, phase two is feasibility studies which we are hoping to have about £1.5m for and phase three is £310m capital and £4m of revenue."
Transport and environment convener Lesley Macinnes, said: "We really are attempting to do this in as comprehensive, informed and intelligent way. Everybody is moving in the same direction..."