The green-light is good news for bidders in the race for the £25m main construction contract.
Firms chasing the deal are believed to include Kier, Sir Robert McAlpine, Morgan Sindall and GMI.
Construction is due to get underway later this year and be completed by late 2014.
The plant will produce famous brands like Dulux and become the new home to the company’s UK Decorative Paints operations.
At the end of 2014, AkzoNobel plans to close its current site in nearby Prudhoe and its manufacturing operations in Slough.
UK Country Director, Guy Williams said: “Receiving planning permission is another step along our timeline towards 2014, allowing us to start building on this new world-class facility.
“This investment highlights the importance of the north-east to AkzoNobel’s operations, placing the region at the heart of our UK manufacturing business for the long term.”