Brighton and Hove Council's planning sub-committee rubber stamped the application, ending a four year saga that has seen developer Karis fight tooth and nail to see it realised.
A statement from Karis and its partners ING Real Estate said: '[We] welcome the council's final approval and now look forward to pressing ahead with delivering the project which will provide over £80 million of benefits to the city.
'This decision has recognised the importance of the King Alfred scheme, as it will not only be a vital boost to sports in the city but will also provide a major contribution to housing opportunity and affordable homes provision.
'It will be a landmark development for the future of Brighton & Hove.'
It was thought the plans may have stumbled at the final hurdle when council leader Brian Oxley voted to take 106 decision making powers away from council officers. This was short lived, however, as Karis threatened the council with legal action ( Council bows to developers in Gehry's King Alfred scheme
The £300 million scheme will redevelop the existing 1930s King Alfred sports centre and a derelict car park, delivering a new £48.2 million sports and leisure centre as well as 751 apartments.