Main construction works at the station will now begin in January 2009.
Rail Minister, Lord Adonis said: "This is a major step forward in the delivery of Crossrail and underlines the Government’s commitment to the project."
Tottenham Court Road station will be extensively redeveloped next year to increase the capacity of the ticket hall sixfold, freeing capacity for Crossrail services.
Of the 13 buildings to be purchased and demolished, the most controversial is live music venue The Astoria, internationally renowned on the live music circuit.
The Compulsory Purchase Orders (CPOs) take effect in January, when the ownership of the properties will transfer from some 97 landlords to the state.
A number of landlords have indicated they will challenge the CPOs in court.