The 3.1 mile A47 Earl Shilton Bypass, to be now called "Clickers Way", was built with more than £16m of Government funding.
The bypass will remove through-traffic, including HGVs, from the town centre - improving journey time reliability, encouraging bus use in the town and creating a safer environment for cyclists and pedestrians.
Geoff Hoon said:
"This scheme is an excellent example of the Government delivering on its commitment to improve local transport.
"The bypass will make Earl Shilton town centre a nicer and safer place to visit and work and will encourage future investment within the town. I congratulate Leicestershire County Council and its partners on the successful delivery of this important scheme."
The bypass links the A47 Hinckley Northern Perimeter Road from a new roundabout at Carrs Hill on the A47 Leicester Road. There is also a combined footway and cycleway along the bypass.
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