The 54- and 42-storey tower blocks, linked by a 10-storey podium, were initially approved by the London Borough of Lambeth last year but were then called in by the then housing minister due to local opposition to the £600m scheme.
Now, the secretary of state for housing, communities and local government has approved the towers, which have been designed by Zaha Hadid Architects.
Vauxhall Cross Island, as the development is called, is and is being developed by Great Marlborough Estates.
The North Tower will consist of 257 flats, while the South Tower will include a 618-room hotel.
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