Transport planning chiefs are reviewing proposals from cycling campaigners to make emergency changes to a junction in Elephant and Castle where a rider was killed last month.
The plans, which focus on creating three left turn bypasses at the junction with Newington Butts to guide cyclists away from traffic, are being considered by Transport for London (TfL).
Members of activist group Stop Killing Cyclists claim the changes would create a "safe segregated cycle junction" that could save lives.
In a new report, the groups says cycle paths measuring 1.6m wide would lead riders along the bypasses, which would be developed in existing dropped kerbs.
Separators would be introduced to protect existing cycle lanes.
The bypasses would be marked with blue signs, while cycle crossing signs would be introduced on the existing shared pedestrian and bike crossings.
Further proposals for the long-term include extensive re-planning of the site's southern junction to incorporate segregated cycle lanes throughout, as well as separators to prevent drivers making left turns from the centre lane.
Campaigners believe the short-term changes could be implemented within a week for as little as £10,000 if given the go-ahead.
The report's author Fred Smith said: "Implementing the signs, lines and small number of separators we propose would be straightforward, very cheap and, we consider, could be achieved within a week.”
Donnachadh McCarthy, the group's co-founder, said recent talks with TfL bosses and the Mayor’s Cycling Commissioner Andrew Gilligan had proved positive.
He said: "We understand that putting in cycling lanes can take time and large amounts of money but we believe there are emergency measures that can save lives".
Campaigners held a 'die in' protest at the junction last month, writing messages in chalk on the part of the road which they believe should become a segregated cycle route.
Despite thousands of pounds being spent on the roundabout in 2010 as part of Boris Johnson's policy of "smoothing traffic flow", cyclist Abdelkhalak Lahyani, 47, died there in May after being hit by a lorry. He was the fifth rider to be killed on London's roads this year.
A sixth cyclist, named by police as 52-year-old Tafsir Butt from Battersea, died after being hit by tipper truck in Parry Street at the Vauxhall Gyratory earlier this week.
Leon Daniels, TfL's managing director of surface transport, said: "Every death on our roads is one too many.
"As part of our work to improve cycling across London, we have met, on several occasions, with the campaigners from Stop Killing Cyclists to discuss how their concerns can be addressed through the ongoing investment we are making into cycling."
