Work on the 25-acre Hogwood Lane site could start within the month. At present there are no plans for Reading's reserve side to play at the new facility.
The club hope Alan Pardew can move his side into the new facility this time next year.
Whilst the Madesjki Stadium has proved to be a phenomenal resource since it opened in 1998, Pardew's side have lacked a training ground to call their own.
In recent years the Royals have trained at Sonning Hockey & Cricket Club as well as Bradfield College, hardly befitting a club of the stature Reading wish to become.
Stadium manager Ray Booth was absolutely delighted to hear the news.
Speaking to readingfc.co.uk he commented: "The Council's decision is great news, and it means that we can now go forward with our plans.
"With the plans the academy and the first team will be permanently based at the same location and will be training alongside each other."
Reading will build changing rooms, toilets, a bootroom, a kitchen, an office, and a reception area on the site. It is believed that five football pitches will be marked out in additional to smaller training areas.
The Royals have reportedly agreed to pay £15,000 to improve site access.