The historic club has twice won permission from the city council but been forced to reapply after changes were deemed necessary to their new home.
Today, planning councillors gave the go-ahead to the £350 million scheme - which will see a 60,000-seater built across Stanley Park not far from Anfield.
Despite permission being granted, it is still unclear when work will begin on the Reds ground.
The club's controversial American owners Tom Hicks and George Gillett ordered a wholescale redesign of the original proposal when they took over last year and their plan was approved last summer.
But it was redrawn a second time by Dallas-based architects HKS earlier this year when the tycoons decided it was too expensive.
The new scheme includes a number of changes, notably a smaller car park beneath the stadium and a reduced height.
The planning committee also met to discuss proposals for a new Everton ground in Kirkby, Merseyside.
But the item was withdrawn from the agenda after hearing the plans had been "changed significantly", said a Liverpool Council spokesman.
It is thought the next hearing will be at the end of the month.