Wirral council has granted formal approval for four neo-Greek Georgian terraces on Hamilton Square to be developed into a 30-bedroom boutique hotel.
A2 Architects is marketing the development which will also provide a 120-cover restaurant and conference suite.
The linked buildings are owned by A2 co-founder and director Dylan Jones and form part of the single largest collection of Grade I-listed buildings outside London.
Buildings at 2-5 on the river side of Hamilton Square will not be externally altered in any way.
Councillors on the planning committee at Wallasey Town Hall set a number of conditions on the approval, including a time limit that work on the project must start within three years.
A2 submitted detailed proposals to Wirral council in May this year with the backing of English Heritage.