South Lanarkshire Council's Planning Committee approved plans to rebuild Carnwath Primary School in Clydesdale.
The brand new school which sits on a private road, accessed from Couthally Road in the village, will also incorporate a new nursery and MUGA (multi use games area) pitch.
Consent for the project, the latest in South Lanarkshire's £812m Primary Schools Modernisation Programme, was given to applicants Morgan Sindall.
Councillors heard that the project will be a 'tandem build' with the school's 147 pupils staying on site until the new building is complete.
At that stage the original 1950s school will be demolished to make way for the new pitch.
Councillor Hugh Dunsmuir, chairman of the Planning Committee, said: "These plans show that the delivery of new and modern primary schools across our communities continues to be one of the council's key objectives.
"In spite of the financial pressures we have faced, we have fought hard to keep the new schools programme on track.
"What better pay off for that commitment could there be than the prospect of hundreds more children learning and playing in schools that are modern, vibrant and fit for purpose in every way."
The new school will be a single storey building with seven classrooms, an admin wing, a nursery and a new carpark and drop-off area.
There will also be a hall used for gym, dining and stage shows.
The existing private access road will be also be upgraded.
Building work will start in April or May, with completion by Summer 2015.