Stage one of Wycombe Film Studios is already operational and the remaining seven stages and studio facilities are expected to be completed in the next 18 months.
The developer is Stage Fifty, owned by James Enright, which already has film studios in Farnborough and Winnersh.
The new studios are being built on a 26-acre site just off the M40 near High Wycombe in Buckinghamshire.
Buckinghamshire Council leader Martin Tett said: "Buckinghamshire is the home of the UK's film industry, so we're delighted that planning permission has now been granted for Wycombe Film Studios. With its state-of-the-art facilities, the studios will be a hub of creativity.”
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