In a statement on the club's official website, it said it would cement its status with an "unrivalled leisure and sporting destination."
Last Thursday, city Councillors on the planning committee approved the Akkeron Group's plans for the development, which would see the replacement of the Mayflower stand at the stadium to provide a new grandstand for the club, with hospitality and club retail facilities. There will also be non-football improvements, including an ice arena, one of the largest cinemas in the south-west and improvements to public amenities.
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The club had originally said work would start next month when it submitted the plans, which were previously rejected. Construction is expected to run for around two years.
Argyle Chairman James Brent said: "Securing planning consent is an important milestone and heralds a new and exciting chapter for Plymouth.
"I would like to put on record my sincere thanks to the overwhelming number of individuals and representative groups who worked with us on the shaping of the scheme and for supporting what we want to achieve for them and future generations."
(JP/IT)
