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The statue is being dubbed 'The Angel of the South'.
Gravesham Borough Council have voted to go ahead with plans to build Mark Wallinger's White Horse landmark in Ebbsfleet.
It will stand at 33 times the size of a normal horse and overlook the A2 from Ebbsfleet Valley. It will cost around £2million.
Further studies will now take place into the detailed design and cost of the project.
Project Director Mark Davy said:
'Ebbsfleet Valley will be a major new mixed-use development, which is set to become a hub for an emerging new economy in the South East. Within a generation, more than 1,000 acres of brownfield land is being developed, creating up to 10,000 new homes and approximately 400 acres of open space, lakes and parkland. The development will deliver in the region of 20,000 jobs.'