The Liberal Democrat Party has formally ratified the coalition deal with the Conservatives.
The Lib Dem parliamentary party and the party's federal executive endorsed the agreement by the required three-quarters majority, a party spokesman said.
The deal was agreed at a late-night meeting at Westminster, a few hundred yards from the Houses of Parliament.
Sources said the deal was approved unanimously by the party's MPs and opposed by only one - unnamed - member of the federal executive.
Mr Clegg and the negotiating team received standing ovations, he said.
Although the required majority was secured, the party will convene a special conference in Birmingham on Saturday for activists to discuss the deal.