Tower Hamlets council has granted approval for renovation of the 11-acre east London site into a campus-style operation.
News Corporation plans to house staff from some of its other brands, such as Harper Collins, MySpace, Dow Jones and Fox, under the same roof as News International.
The projected site will include a restaurant, new public spaces, a 33m-high atrium and shops for 4,300 staff.
It is understood work on the project will start in 2011.
The new-look site has been designed by Amanda Levete Architects, creator of the Lord's media centre in St John's Wood, London.
News Corporation's plans were knocked back in June, when the council deferred a decision on the scheme. The plans were criticised by English Heritage, which objected to demolition of part of a grade 2-listed building on the site.