The food street, spanning 368 m between Dien Bien Phu and Nguyen Dinh Chieu, operates from 7 p.m. to 11 p.m. daily starting December 21.
There are some 92 eateries on the street besides dozens of shops that sell clothing, shoes, beauty products, and other goods.
Cars will be banned from the section and motorbikes are required to be driven at restricted speeds. Authorities will create two parking lots for motorbikes for customers.
Pham Thi Thuy Hang, deputy chairman of the District 3 People's Committee, said there have always been food businesses on Nguyen Thuong Hien Street and making it an official food street would be beneficial for them.
Bui Nguyen Thai Nhan, 38, the owner of a roasted meat shop on the street, said ever since news broke that the street would become a nighttime food street, more and more people have been coming.
"Tonight the amount of food sold at my shop tripled, and there are more foreign tourists coming than before."
Nguyen Phuong, deputy director of the city Department of Industry and Trade, said the food street would be a new place for amusement for both locals and tourists, and also help develop the city's nighttime economy.
HCMC has two pedestrians-only streets in District 1 -- Nguyen Hue and Bui Vien -- and several food streets in various districts.
British magazine Time Out in 2019 listed District 3 in downtown HCMC as one of the neighborhoods "you have to visit right now," and advises food enthusiasts to head to Nguyen Thuong Hien Street which is famous for popular street foods, particularly banh trang tron (rice paper salad).