The planning permission was granted despite objections regarding the scale and density of the proposed building.
The hotel is set to be seven stories high, with 200 bedrooms on the Clonliffe College site, walking distance from Croke Park.
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Hotel group Dalata, behind both the Maldron and Clayton groups, will operate the hotel.
Locals had argued the hotel, which is to be built on a site bought from the Catholic Church, would be out of character with the area, impact on parking and cause congestion.
According to The Irish Times, the hotel is part of a major development planned for more than 30 acres which was been purchased for up to €95 million.
