The proposal for the £8 million hotel, bar and restaurant which will create around 100 new jobs, had previously been recommended for approval.
The project will regenerate the former derelict Holy Rosary Church and an adjacent Parochial House building at 348-350 Ormeau Road. Planning and development consultancy Turley provided expert planning and strategic communications services for the project.
Galgorm Collection managing director Colin Johnston said: "We've extensively engaged with councillors, partners, residents and stakeholders to ensure that one of Belfast's finest, historic buildings can be carefully restored to create an outstanding new and unique hotel and dining experience for the city and for Northern Ireland. We are delighted that our approved plans will further enhance Belfast's growing high quality hospitality offer in line with our own aspirations and that of the city, while adding to the vibrancy of community life on Ormeau Road."
The site is being restored and preserved in advance of its opening in Spring 2020. It will feature 18 guest rooms.
The 19th century grade B1 listed building has been derelict since its closure in 1980.