The application included a mixed-use urban village with 300 homes, commercial and cultural facilities, a hotel, cafes and restaurants.
It was produced by Manchester-based property company Maryland securities and Wigan Metropolitan Borough Council.
The project has received support from English Heritage, The Prince’s Regeneration Trust, the Commission for Architecture and the Built Environment and the North West Development Agency.
Maryland managing director Jacob Jebreel said: "Over 30 of the country’s top architects and master planners auditioned in a national competition.
"Following the short listing of the top five contenders, the selection panel was overwhelmed by the fierce competition and quality of innovative proposals submitted for this site and the approved plan reflects this quality.
"We are delighted to receive such wide ranging support and for the significant economic benefits this project gives back to the region."