The earliest bridge across the Tyne, Pons Aelius, was built by the Romans near the location of the present Tyne Bridge. Built around 122, it fell into disrepair, and a stone bridge was built in 1270. This was in turn destroyed by the great flood of 1771. In 1781, a new stone bridge across the Tyne was completed. Increased shipping activity led to the stone bridge being removed in 1866 to make way for construction of the present Swing Bridge, which opened in 1876.

The idea for a bridge at the location of the present Tyne Bridge dates back to 1864, due to concern about the cost of tolls on the High Level Bridge - although the first serious discussions took place in 1883. Committees met over the next three decades, but it wasn't until the early 1920s that proposals were commenced in earnest, boosted by the chance to secure central government funding. On 29 April 1924, Newcastle and Gateshead approved the plans, and the Newcastle upon Tyne and Gateshead (Corporations) Bridge Act was passed on 7 August that year, with an estimated cost of £1 million including land acquisitions. The final cost on completion was £1.2 million.

Work started in August 1925 with Dorman Long acting as the building contractors. Despite the dangers of the building work, only one worker (Charles Tosh) died in the building of this structure.
The Tyne Bridge was designed by Mott, Hay and Anderson who based their design on the Hell Gate Bridge in New York (which was completed in 1916) and the Sydney Harbour Bridge, which was designed in 1916 with construction commencing in 1923. The bridge was completed on 25 February 1928 and opened on 10 October by King George V and Queen Mary, who were the first to use the roadway travelling in their Ascot landau. Robert Allen (a graduate of Durham University) was the Consultant Engineer.

The Tyne Bridge's towers were built of Cornish granite and were designed as warehouses with five storeys. However, the inner floors of the warehouses in the bridge's towers were not completed and, as a result, the storage areas were never used. Lifts for passengers and goods were built in the towers to provide access to the Quayside although they are no longer in use.
The bridge was originally painted green with special paint made by J. Dampney Co. of Gateshead. The same colours were used to paint the bridge in 2000. The bridge spans 531 feet (162 m) and the road deck is 84 feet (26 m) above the river level.