It is hoped that it will ease traffic congestion and boost economic growth in both Telford and Shrewsbury.
Currently, the M54 merges with the M6 southbound at junction 10a at Walsall.
Drivers using the M54 can only travel southbound onto the M6.
It means northbound road users have to leave the motorway network and navigate local A roads in order to connect with the M6 north at junction 11 or 12 or the toll road at junction T8 to continue their journey.
Three options for the M54/M6 link road project were unveiled last year.
In September, Highways England launched a month-long consultation over the three routes for the motorway, which links Shropshire to the West Midlands.
Now, highway chiefs say further work is being carried out and once it is finalised a decision will be made on the preferred route.
Highways England project manager, Andrew Kelly said: "The construction of a new link road connecting the M54 to the M6 was announced in the Road Investment Strategy.
"Following consultation asking for feedback on three options we are carrying out further assessment work and will make a decision on the preferred route once this is finalised.”
One proposal, Option B West, was for a new road linking junction one of the M54 to the A4601 Wolverhampton Road, close to the M6 Toll.
The route would also see a new road into Featherstone on the Shropshire border.
The second proposal, Option C West, would widen the existing M54 from junction one towards the M6.
The route would then branch off north, following the M6 and going under Hilton Lane and the A460 Cannock Road.
It would eventually connect to the M6 north of junction 11 and to the M6 Toll at junction T8.
The final proposal, Option C East, would also see the widening of the M54 up to the M6, but would branch off earlier than Option C West.
The road would cut through ancient woodland at Burn’s Wood, Spring Coppice and Keeper’s Wood.
It would then also connect to the M6 north of junction 11 and to the M6 Toll at junction T8.
Richard Sheehan, chief executive of the Shropshire Chamber of Commerce, said building a new link road would bring many benefits to the local economy.
He said: "It would be very difficult to dispute the economic growth it could bring to the county.
"Further investment in our infrastructure would be warmly welcomed by the business community."