Hammersmith and Fulham Council granted planning permission on Wednesday for the Premier League leaders to replace their long-time home on the same site, solving long-running attempts to bolster their home support and matchday revenues.
The proposal now just needs the green light from London Mayor Sadiq Khan before Chelsea can begin planning in earnest.
A new stadium on the site of the iconic Battersea Power Station fell through in 2012, while mooted moves to Earl's Court and the Chelsea Barracks have also failed to get off the ground.
Stamford Bridge's current capacity is 41,663 - lower than Chelsea's Premier League rivals Manchester City and United, Arsenal and Liverpool, with Tottenham's new stadium next to White Hart Lane to house 61,000 when it opens in two seasons' time.
A club statement from Chelsea read: "More than a year ago, a planning application for a new stadium at Stamford Bridge with an expanded seating capacity was submitted to our local council, Hammersmith & Fulham.
"Over the past 12 months we have consulted widely with neighbouring residents, local businesses, statutory authorities and continued to work closely with the council.
"Tonight the council's planning committee considered the application and we are grateful that planning permission was granted for the redevelopment of our historic home.
"The committee decision does not mean that work can begin on site. This is just the latest step, although a significant one, that we have to take before we can commence work, including obtaining various other permissions.
"We will continue to inform you of progress throughout this process. Thank you for your continued support."