If given the green light, the proposals would see the High Street opened to traffic in the evenings.
The scheme has been discussed by the Paisley Vision Board – a partnership between the council and the private sector – and will now go before councillors.
Under the plans, access to the High Street and Gilmour Street will be opened up between 4.30pm and 10.30am to cars and taxis.
The street was pedestrianised in 1997.
Some traders say that reopening the street to traffic could help boost business.
Renfrewshire Council leader Mark Macmillan, who is chairman of the Vision Board, said: "We anticipate that the partial reopening of the High Street will help encourage investment, improve access to shops and make the area safer and more attractive."