The bridge carries about 5,400 vehicles a day over the Ohio River along U.S. 51, 60 and 62.
At 76 years old, it is considered "functionally obsolete" because it doesn't meet modern traffic standards.
The Kentucky Transportation Cabinet says in a news release that the bridge carries a high percentage of commercial truck traffic and the nearest alternate requires a two-hour detour.
Cabinet employees will be conducting traffic counts, evaluating bridge conditions and investigating environmental and community resources in the study area.
The study will help the cabinet determine whether to rehabilitate the existing span, build a new one, or, perhaps, do nothing at all.
