Drivers would be charged $5 on weekdays and $10 on weekends, and would also need a reservation to drive down the popular section of the street.
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The purpose of the proposal is to control congestion. People who live on the street say traffic has become unbearable and that pedestrian traffic is also a problem.
The San Francisco County Transportation Authority says about two million people visit the landmark each year and neighbors are fed up with it.
They've complained about traffic congestion, littering and vandalism in the area.
"They haven't started to address the pedestrian problem," said Greg Brundage. "It causes bottlenecks, pollution, people go to the bathroom in your carports and in your doorways. They climb on your roof. It has gotten pretty bad."
Tourists who were out enjoying the street this morning were okay with the $5 charge, but said a firm no to $10.
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Others expressed sympathy for the residents, but would still rather visit the spot for free.
"If I lived here I would be a proponent of that," said Tate Hester who was visiting from Florida. "But as a tourist, obviously I'd rather do it for free."
The toll would not apply to people who live on the crooked part of the street.
Transportation officials will hold a public meeting on Wednesday to get feedback.