Trafford Council gave the plans the green light, which will see a new 4,850-seater stand replace the Red Rose Suite, as well as the creation of a pitch-view suite, enhanced Member facilities, a heritage centre, ticket office and retail shop.
When delivered, this scheme will bring the capacity of Old Trafford to 26,700, making it the largest ground outside of London.
An extension of the award-winning Hilton Garden Inn hotel, which opened its doors two years ago at Old Trafford, also forms part of the development plans.
These plans coincide with the transformation of the suburb, including the Town Hall and surrounding areas into a new 'Civic Quarter', which covers a 120-acre site taking in the Town Hall, Lancashire Cricket Club, the former Kellogg's site including the University Academy 92 (UA92) campus, stretching up to the A56/Chester Road and White City retail park.
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Daniel Gidney, Chief Executive at Lancashire Cricket, said: "We are delighted that the application for further development at Emirates Old Trafford has been approved by the planning committee.
"The decade-long £60 million redevelopment of the ground was so that the Club could host major competitions, and major matches as it has done in 2019 with the ICC Cricket World Cup and Ashes, and will continue to do over the next five years and beyond.
"The new stand and hotel extension will complete the redevelopment of Emirates Old Trafford. We're committed to making Lancashire Cricket the best it possibly can be and position it as an unrivalled venue for business, sport and leisure.
"We're looking forward to the next phase, which will help us to achieve our vision of establishing Lancashire Cricket as the best cricket club in the world. It's an exciting chapter for both the Club and venue, and also the region. I would also like to thank Chroma and Paul Butler Associates for their assistance throughout the process."
(CM/JG)
