The scheme is one of the regeneration projects proposed for the town as part of Channel 4's urban makeover series, titled Castleford Project.
The programme aims to produce a 'fly-on-the-wall' record of the attempts to trigger the process of urban regeneration in the West Yorkshire town.
Wakefield council leader Peter Box said of the bridge: 'I am delighted with the news. The bridge will make such a difference to the town, attracting new interest to a previously overlooked beauty spot and supporting the wider regeneration of the area.'
According to the architect, the bridge will follow the contours of a local weir.
In addition, the practice claims, the 'simple and elegant design sets out to minimise the visual impact on the river and riverside whilst allowing maximum visibility of the river.'