The proposed new stadium would seat 60,000 fans
Liverpool Football Club's revised plans for its Stanley Park stadium have been approved by the city council.
The planning committee backed the revised scheme, which included changes to the original design, on Tuesday.
It is the third draft of the plans - councillors gave the originals the go-ahead four years ago.
Opponents to the scheme have objected, calling the 60,000-seater stadium a "monstrous" development that is too big for the area.
The latest plans include improved leisure and retail facilities.
The Reds' current home will be redeveloped as a car park, sports centre and hotel.
It is hoped the scheme will regenerate public land which stands between Anfield and Everton's ground, Goodison Park.
Plans have previously been delayed because the club changed hands and the design was revised.
But with the two owners Tom Hicks and George Gillett in dispute with each other, building work could still be delayed.
The American duo took control of Liverpool in a deal worth £218.9m in February 2007.
But the relationship between the two men broke down some time ago, with the pair no longer on speaking terms.
Their falling-out has led to a war of words.
In a television interview, Hicks outlined his own plans for the future of the club as well as again calling for the resignation of chief executive Rick Parry.
But George Gillett has said he will not sell his share in the club to his rival.