The aim of this paper is the investigation of public acceptance and socio-economic feasibility of reducing the speed limit in the interurban road network in Greece, from 90km/h to 80 km/h. For this purpose, a stated preference survey including 10 hypothetical scenarios with the variables of travel time, fuel consumption and probability of road accident with injury, was answered by 408 commuters. Then, a multinomial logistic regression model was developed to identify prevailing parameters affecting the public acceptance. Afterwards a Cost Benefit Analysis (CBA) was conducted to investigate the socioeconomic feasibility of the measure, up to the year 2030. The analysis showed that reducing the speed limit in the Greek interurban road network requires low investment cost compared to the substantial positive impact on social welfare, presenting a positive economic Net Present Value and a high Financial Internal Rate of Return (39.1%), indicating the feasibility of over time.