The signs had been installed along Portobello Rd, after the success of similar signs erected on Three Mile Hill, between Dunedin and Mosgiel, Mr Conaghan said.
It is believed cyclists will be an ever-growing presence on the narrow peninsula road which is to be widened progressively.
"As the road is widened and the shared cycleway-walkway for the area is developed, then starting now to raise awareness of shared road use is very worthwhile," Mr Conaghan said.
The cycleway-walkway would further promote cycling on the peninsula.
It will be part of the council's harbourside project, which will take a route from the city to Harington Point on the peninsula, and to Aramoana on the other side of the harbour.
It would be developed in stages over 10 years, as funding became available, Mr Conaghan said.
Photo by Gerard O'Brien.