The reopening of Shandwick Place marks the final phase of major civil engineering in the area, which firms blamed for a huge drop in business.
However, there will be further local preparatory works along the line, the city council said.
Changes in the West End include a return to two-way vehicle traffic at Manor Place and bus, taxi and cycle access to Shandwick Place, with vehicles permitted entry between 8pm and 7am.
Further work to reinstate the road network back to pre-tram arrangements will be carried out by the council and preparations for live tram operation will also take place.
These planned works will be localised but may cause disruption until the end of the tram's testing and commissioning phase, the council said.
About 300 businesses in Edinburgh city centre that lost out financially because of the tram works are to be compensated in the form of cuts of potentially more than 20% on annual rates bills or a similar package, thought be worth up to £10 million in total.
Lesley Hinds, the city's Transport Convener, said: "With the tram project now nearing completion, the city centre is beginning to take shape and we can look forward to next year, when passenger services will begin.
"We know it's been very difficult for people living and working in areas affected by the tram works and it will be a big relief that the majority of disruptive works in the city centre are now over."