Tory MP and Synod member Robert Key, who supported the reforms, said afterwards it was time for the Church to move beyond "navel-gazing".
He added: "It is a good day for the Church of England, and it is a good day for the country because our national church, the church by law established, is actually now in step with most of the country and what people feel."
Synod member and traditionalist Gerry O'Brien was hissed during the debate as he alluded to the American and Canadian Churches, from whom traditionalists have split in protest at the ordination of an openly gay bishop in 2003.
Mr O'Brien said: "We can force people out of the Church of England but I think the experience in America says you can't force people out of the Anglican Communion, because there are a lot of archbishops elsewhere in the world who will be more than ready to provide the support."
Campaigners for women bishops have welcomed the decision
The Bishop of Fulham, the Right Reverend John Broadhurst, who is a traditionalist, told Newsnight that the vote could lead to a split.
"I think a lot of us have made it quite clear if there isn't proper provision for us to live in dignity, inevitably we're driven out," he said.
"It's not a case of walking away."
Christina Rees, chairwoman of Women and the Church, which supports female ordination, said she welcomed the decision.
She added: "It is very good for the Church and very good for women and also good for the whole nation."
The first women priests in the Church of England were ordained in 1994.
The Episcopal Church in Scotland has already cleared the way for ordaining women bishops, as have churches in America, Canada, New Zealand and Australia.
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