Ealing Council granted planning permission for the development on Wednesday night, which is scheduled to be completed in time for the 2015-16 season.
The complex will feature grass pitches as well as both indoor and outdoor 3G artificial surfaces and expanded gym and sport science facilities.
Chief Executive Philip Beard told www.qpr.co.uk: "This is a landmark day for Queens Park Rangers Football Club.
"We are hugely grateful for the support shown by all parties, especially the local residents, who we hope will benefit extensively from the range of facilities and activities that will become available over the course of the coming years.
"There is a lot of hard work ahead of us as we finalise the design details and tendering of the project, but today's [Wednesday's] news is a massive step forward and a significant milestone for the club."