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Dundee Council said this approach has been agreed to minimise disruption and get the best value for public money.
Officials from Transport Scotland, Network Rail, ScotRail and TACTRAN agreed to assist the Dundee Waterfront Board initiative at a recent meeting.
Chair of Dundee Waterfront Board Ken Guild said: "It makes sound financial sense for the design study to include the potential for a new station entrance complex.
"It is also inevitable that replacing the bridge in order to realign the roads as part of the waterfront redevelopment will cause disruption to rail and road users, as would the creation of a new station concourse.
"So I am pleased that all of the main players have come together to agree this approach which offers the best way forward at this time."
The bridge which needs replaced dates back to Victorian times and is not suitable for the new road lay-out at the waterfront.
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Extensive investigations found that the best solution is complete removal and replacement of most of it.
But over the years parts of the station concourse have been built out onto the bridge.
At the meeting it was agreed that designing a street level station concourse that is structurally compatible with the new bridge offered the best value for money.
The organisations with a stake in the station have agreed to support the Dundee Waterfront Project's proposal to design a new facility that works from an engineering and service providers' point of view and better reflects the city's ambitions, encourages more use of public transport and fits in with the surrounding architecture.
Any designs for a new entrance complex will include the potential for commercial elements to integrate with the existing station building.
The design study will be funded by Dundee Waterfront Partnership and TACTRAN and will also look at ways of funding a new station entrance complex that does not rely on financial commitments from Network Rail, Transport Scotland or transport service providers.
Allan Watt, director of business infrastructure and industries Scottish Enterprise, who is also a Waterfront Board member, said: "There is a massive amount of opportunity in Dundee as it continues to grow and develop at an impressive rate.
"That means that more and more people will continue to live, work and visit, so it is vital that the city is suitably equipped to cope with these opportunities.
"This agreement represents a real chance to further enhance Dundee."
All of the parties have agreed to close and careful co-operation, which they say is vital to enable any possible improvements to take place.
Although the bridge replacement and road realignment are scheduled for the next phase of the Waterfront development, due to start in four to five years time, work on this scale has to be planned and approved well in advance.
(GK/BMcc)
