PROMISE: Mr Corbyn's policy puts him in direct opposition with Donald Trump
The party leader has stated his commitment in his flagship speech at Labour's party conference in Liverpool.
Mr Corbyn has long-campaigned for a free Palestine amid its peoples' conflict with Israel – but it comes after a summer beset by rows within the party over anti-Semitism.
Today he said Labour "will recognise a Palestinian state as soon as we take office".
The pledge was greeted with enthusiastic support, with members rising for a standing ovation and many waving Palestinian flags.
SUPPORT: Labour members wave their Palestinian banners
Corbyn's decision to give so much energy to the pro-Palestinian cause was deemed unwise by some, given ongoing accusations of anti-Semitism within the party.
The Labour leader did devote some time in his speech to the controversy, Appealing to the Jewish community to help him "draw a line under it", saying: "This party, this movement, will always be implacable campaigners against anti-Semitism and racism in all its forms.
"We are your ally.
"And the next Labour government will guarantee whatever support necessary to ensure the security of Jewish community centres and places of worship, as we will for any other community experiencing hateful behaviour and physical attacks."
CHEERS: The announcement received a standing ovation
Responding to the recognition announcement Ben Jamal, director of the Palestine Solidarity Campaign, called it an "unprecedented display of solidarity".
He tweeted: "Jeremy Corbyn condemns settlement expansion, killing of unarmed demonstrators and racist Nation State law.
"Labour is solidarity with Palestinians #Labour4Palestine".
Corbyn's move puts him in direct opposition with US President Donald Trump, who recognised Jerusalem as Israel's capital earlier this year – one of the greatest points of contention in the conflict.
Shadow foreign secretary Emily Thornberry earlier echoed the party leader, saying an independent Palestine was needed “while there is still some Palestine left to recognise”.
She also highlighted the toll the conflict was taking on children both in Israel and Palestine.
The Palestinian region, consisting of the West Bank and Gaza Strip, has been occupied by Israel since 1967.