The application, by Oban Bay Marine includes provision for small day boats/ribs, a diesel berth, manager's office and limited use for over-wintering.
These facilities will add to a sailboat and kayak marina already in existence at Kerrera island in the Inner Hebrides.
Argyll and Bute Council made the decision nine months after refusing to spend £900,000 on a yacht berthing facility at the beauty spot.
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Oban Marina changed hands in February this year and is now owned by the newly-formed Oban Marina & Yacht Services Ltd.
The company will now have to put together a business case if the proposal is to go ahead.
Area Leader for Oban, Lorn and The Isles, Louise Glen-Lee, said: "This marina will enable Oban to welcome vessels into the bay area for a walk ashore facility. I look forward to seeing vessels from cruise liners to kayaks using the bay well together and strengthening Oban as an international sailing hub. The committee's decision allows the applicants to go ahead and pull together a funding package and put together a strong business case together."
(NE/GK)
