University College Falmouth's bid to be granted full university status has been officially approved by The Privy Council, clearing the way for it to become Cornwall's first university.
Officials have also approved the new name Falmouth University, which takes immediate effect and a new visual identity will be launched next spring.
The new status follows a recommendation to the Privy Council from the universities and science Minister David Willetts two weeks ago that Falmouth be granted university title following its application in the summer.
University status is seen as a hallmark of quality in the higher education sector. It will not only boost Falmouth and Cornwall's appeal, but will further Falmouth's ambition to become one of the top five arts universities in the world.
Falmouth University's vice chancellor and chief executive, Professor Anne Carlisle, said: "We are delighted to have received notice from the Privy Council that our applications for university title and new name have been officially approved.
"This is the culmination of many years' work by a great number of people and means that Cornwall has a university it can call its own. We will use this as a springboard to build on the excellence of our teaching and facilities, and further our goal to be one of the top five arts universities in the world."
Over the last 10 years Falmouth has seen student numbers triple to more than 4,000 and has benefitted from more than £100 million of investment in world class facilities at its two campuses in Falmouth and nearby Penryn.