Fulham have been granted permission from the London Borough of Hammersmith and Fulham to expand the Riverside Stand at Craven Cottage.
The plans launched by chairman Shahid Khan will see the capacity of the stadium increase from 25,700 to 29,600 and reopen a popular riverside walk from Putney to Hammersmith.
The new stand will include shops, restaurants and nine short-stay flats, as well as adding a second tier for the fans.
"Our goal for a brighter future for Fulham Football Club, the neighbourhood, our borough and all of London is now at our doorstep," Khan told reporters.
"Tonight's news wouldn't be possible if not for supporters and local residents who believed in our vision, so I hope they will join us in celebrating what will be a new and important chapter in the history of Fulham and Craven Cottage.
"While there are too many people to thank, no one who helped to play a role in this process to date will ever be forgotten."
The redevelopment of the stadium is due to begin in the summer of 2019.
Matthew Jones
