Shropshire Council will start a consultation on June 17 to alter the limit on the A529 between Hinstock and Woodseaves from 60mph to 50mph.
It was recognised as one of the country's most dangerous roads in the 2016 EuroRAP Risk Ratings Report.
In the five years prior to 2018, five people died and more than 100 were injured while travelling on the road. Data shows there were 77 reported collisions and 119 people injured between Hinstock and Audlem.
This led Shropshire Council to apply for £3.8 million from the Department of Transport (DfT) to make the road safer.
The consultation runs until July 8.
A spokesman from Shropshire Council said: "The A529 between Hinstock and Audlem has been highlighted by the Road Safety Foundation as a section of high concern and therefore attracted funding from the DfT Safer Roads Fund.
"The reduction of the speed limit along Wood Lane from national speed limit (60mph) on the link between the north of Hinstock and the south of Lockley Wood to 50mph, is to support the safety countermeasures which are possible within the highway boundary.
"The reduction of the speed limit from national speed limit on the link between Lockley Wood Crossroads to 200m north of Mount Pleasant Crossroads and 32m back along the side road to Lightwoods/Cheswardine to 50mph, is to support all the safety countermeasures at Mount Pleasant Crossroads completed in Autumn 2019 which were possible within the highway boundary.
"This will improve the safety of this section of the highway network by facilitating and improving safety for vehicular traffic and all other road users."
There have been a number of fatal collisions on the road in recent years. In 2016, a 23-year old man died when the car he was a passenger in left the road and went down an embankment.
An 80-year-old woman died following a two-vehicle crash at the Sweet Appletree crossroads near Hinstock in 2015.
In December 2017, a man in his 60s suffered a head injury after his car collided with a wall on the A529 near Woodseaves.
For more information or to submit feedback contact the council's highways engineering team by emailing firstname.lastname@example.org, writing to Traffic Engineering Team, Shirehall, Abbey Foregate, Shrewsbury, SY2 6ND, or by calling 03456789006.