The opening marked the completion of a $45 million project that saw the highway through Caversham Valley extended to four lanes, increasing safety for the 26,000 vehicles a day that use the busiest highway corridor south of Christchurch.
The bridge, which connects Mornington and Corstorphine, was opened by Minister of Transport Simon Bridges.
Dunedin Mayor Dave Cull spoke at the event, saying the route improved safety and efficiency, and provided a better first impression of the city for people arriving from the Dunedin Airport.
The bridge was originally going to be the Riselaw Road bridge, but the name was changed by the New Zealand Transport Agency after Otago Daily Times readers backed Lookout Point as a better name through the newspaper's Detours column.