 Tom Hicks says he is excited about the new stadium plans |
The 60,000 capacity ground at Stanley Park has been unanimously approved by Liverpool City Council planning committee after a five-hour meeting.
The Premier League club's new stadium will hold 15,000 more fans than the existing site, but that could increase to 75,000 in the future.
The plans were resubmitted because American owners George Gillett and Tom Hicks were unhappy with the originals.
It's a fantastic job to be involved with, a fantastic city and fantastic club 
The new stadium will house 114 executive boxes, twice the number in the original design, and will regenerate public land which stands between Anfield and Everton's ground, Goodison Park.
Paul Hyett, chairman of HKS Architects in charge of the stadium project, said: "You don't often get one like this to deal with. Most people never get to work on one like this.
"It's a fantastic job to be involved with, a fantastic city and fantastic club."
A spokesman for Liverpool FC said work on the new stadium could begin almost immediately and was expected to be finished by August 2011.
Construction of the new ground means the Stanley Park area will benefit from £14m of Government funding.
'Monstrous sized'
Despite celebration over the approval, the club's application has been widely opposed by residents living near to the new development and the Campaign for the Protection of Rural England.
Local councillor Steve Radford called it a "monstrous sized development" that should not have been passed.
He said: "I believe the officers of the council have acted as agents of the club, not agents of the people."
The Reds' current home will be redeveloped as a car park, sports centre and hotel.
Talks are under way with families of Hillsborough victims about moving the 1989 memorial.
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