The scheme will see the 13-year-old Falkirk Wheel refurbished, with the existing visitor centre, trip boats, conference rooms and activity hub refreshed to celebrate the structure's engineering.
In addition, the attraction will remain open during the works, which form part of a phased investment plan to further improvements and create new visitor experiences.
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The Falkirk Wheel links the Forth & Clyde Canal to the Union Canal 35m (115ft) above.
Over 600,000 people visited the working sculpture in 2015.
Steve Dunlop, Chief Executive of Scottish Canals, said that the investment programme will build on the attractions recent success.
"The Falkirk Wheel is a towering symbol of the renaissance of Scotland's canals and one of the nation's top tourism attractions," he said.
"This investment will build on that success, refreshing the Wheel's existing attractions, and encouraging even more people to take a turn on the world's only rotating boat lift.
"With the completion of this project, and The Helix and The Kelpies nearby, the area will have even more to offer visitors."
(LM/JP)
