The 64-storey Owen Street skyscraper will contain 496 apartments and will trump the neighbouring 48-floor Beetham Tower.
The tower will be built alongside three slightly smaller buildings near Deansgate railway station, on land previously used as a car park.
The tallest will be 200.5 metres tall. The other three are 37-, 44- and 50-storeys high, reaching 122-, 140- and 158-metres respectively.
Tower B is 50 floors and 157.9 metres tall, Tower C is 37-storeys and 122 metres tall and Tower D is 44 floors and 140.4 metres tall.
The developer is CQ Investments, part of the Renaker Build group of companies.
The scheme, designed by SimpsonHaugh & Partners, also includes basement car parking and a cinema. The four main towers will range between 37 and 64 storeys, and include 1,508 apartments in total, with a further three-storey building housing a tennis court, swimming pool and retail units.
Andy Finch, head of sales at Renaker Build, said: “We are thrilled to have received permission for our latest development which will be the first within the Great Jackson Street framework, creating a new community at the southern gateway to the core of Manchester city centre.”
WSP Parsons Brinckerhoff provided building services engineering. Director Ian Standring said: “Planning approval for the Owen Street towers is a real sign of confidence in Manchester’s property market, and we’re excited to be working as part of the design team on what will be an iconic scheme for the city.”