The ambitious 68-storey and 42 storey tower complex would rise to 236m, taller than Canary Wharf but still dwarfted by the 310m tall Shard.
The ambitious One Lansdowne Road mixed-use scheme will contain nearly 800 flats, 35,000 sq ft of offices, bars and restaurants.
Given its scale the plan must now clear one last planning hurdle at the London mayor’s office before construction can start.
The approved skyscraper will have 170 affordable flats which will each have two bedrooms and be able to house up to four people.
David Hudson, chief executive of Guildhouse UK Limited, which proposed the plans in conjunction with development partner Rosepride, said construction could start by the end of 2018.
Once existing buildings on the site are demolished, construction is expected to take around five years.