Transit “pass-through” lanes provide transit vehicle priority at freeway interchanges. “Pass-through” lanes allow a transit vehicle to exit the freeway at an interchange, cross straight through the intersecting arterial road, and re-enter the freeway. This treatment allows transit vehicles to bypass congestion on the mainline between the beginning of the off-ramp and the end of the on-ramp. This paper outlines a methodology to evaluate if transit “pass-through” lanes are economically justified at a given interchange and provides a method for prioritizing candidate locations. The methodology provides an objective and consistent decision making method, reduces the effort required for practitioners to assess the need for “pass-through” treatment at a given interchange, and helps ensure that limited resources are directed towards interchanges that are expected to experience the greatest benefit per dollar spent. The proposed methodology is based on an analytical approach that compares the value of travel time savings (for passengers and transit vehicles) with the construction and maintenance costs of the transit “pass-through” lane treatment.