The Hammers have been announced as the preferred bidder by the Olympic Park Legacy Company, with its members deciding unanimously that their bid had met more of the set criteria than that of fellow Premier League side Tottenham.
Head of the OPLC, Baroness Ford, said: “We have made a unanimous recommendation to back West Ham and the borough of Newham as the long term tenant.
“This represents the very best legacy for the stadium.
“It is cracking for the communities of east London and a really good outcome for sport.”
West Ham will now wait for the decision to be rubber-stamped by two Government departments and the London Mayor’s office, but it is highly unlikely that it will not be ratified.
Mayor of London Boris Johnson has publicly welcomed the verdict, saying: "This is a very significant step forward towards delivering the Olympic Park legacy and the Legacy Company has run a thoroughly professional and robust process.
"This milestone means we now have the prospect of a local football club and a multi-use venue capable of hosting athletics, a range of other sports and a vibrant programme of events for the local community and schools.
"I am thrilled that the Legacy Company board has arrived at a recommendation for me and my colleagues in Government to consider.
"I am confident that we will be able to respond quickly to the advice of the Legacy Company in making our decision."
Spurs’ plans for the facility were criticised heavily in the build-up to the announcement, with the White Hart Lane outfit planning to knock down the stadium and rebuild it.
Tottenham were also planning to remove the running track despite promises made to the International Olympics Committee in 2005 that it would remain in place should London win the bid, proposing an expansion of the Crystal Palace athletics facility instead.
By contrast, West Ham pledged to keep the running track and also confirmed their plans to put back into the local community as part of the Olympic Games’ legacy in the city.