Wiltshire Council member for Malmesbury, Gavin Grant, said it was a small mercy that the collapse happened in the early hours of the morning while the path was unused.
The landslide happened in Kingswall above The Maltings.
The higher footpath is still open and access from Burnivale to the Mirror is still open.
Cllr Gavin Grant said: “A small mercy that this collapse happened in the early hours of the morning when no one was around to be hurt, or worse.
“I have contacted Wiltshire’s director of highways and asked him to make sure the area was made safe and an urgent inspection carried out on the rest of the wall.
“The wall will be rebuilt and the footpath made good at Wiltshire Council’s expense.
“Living directly above the affected area, it was quite a shock to see the scale of the collapse.
“Walkers can still use this busy walkway by a short diversion up or down the steep steps, but please take extra care.”
Cllr Bridget Wayman, Wiltshire Council cabinet member for highways, said: “The council first became aware of this slippage at 8.30am on Monday morning when it was reported to us by the police.
“The site was then inspected by highway engineers and barriers erected to close the footway and maintain public safety.
“The remaining structure has been assessed as being stable, but a prompt repair will be required to prevent further deterioration.
“We are working with other stakeholders to facilitate reconstruction as soon as possible.”