Treasurer Peter Gutwein described the completed project as a "jewel in the crown" for Launceston.

The $1.2 million upgrade to the boardwalk, which links the city's iconic landmarks, saw timber planks that once lined the boardwalk replaced with decking of recycled plastic, designed to last longer than the previous boards.

The last stage of the project will be fibreglass handrails, which are expected to be installed within a few weeks.

With continued redevelopment at North Bank, Launceston mayor Albert van Zetten said the new, safer boardwalk would be used every day by tourists, cyclists and pedestrians.

"This is a very important part of Launceston and the development that's happening around here is extremely important," Alderman van Zetten said.

"To have this in such a good condition is fantastic."

The state government provided $1 million for the project, which began at the start of the year.

Mr Gutwein said that he had had high hopes for the project but the finished product was better than he had expected.

"It's a fantastic job that's been done and I think it just adds to what really is the jewel in the crown for Launceston," he said.