The outline planning consent, which was granted in principle in February this year, has now been fully approved by the East Riding of Yorkshire Council.
The prestigious development is likely to create 3,000 new and sustainable jobs in Goole and the East Riding.
There are two elements to the planned development by Junction 36 of the M62:
Occupiers at Capitol Park Goole already include Tesco, Drax and Guardian Glass.
Mike Heydecke, director of Sterling Capitol, said: “This is tremendous news.
"Although our proposals were approved in principle in February, there were a number of planning conditions and hurdles, including a Section 106 agreement, still to be sorted out.
"These have all now been satisfied. Now we can crack on with this exciting development, which will provide a much-needed boost to the area’s economy.
“Together, Goole 36 and Capitol Park will include a mix of industrial property and warehouse units, together with retail and leisure facilities and car showrooms – plus a 100-bed hotel.
"The 2.14 million sq ft site has direct access to the M62 and the Port of Goole and sits within the Humber Enterprise Zone with potential for a dedicated rail link,” he explained.