However, the EC is yet to make an official announcement in this regard.
Palaniswami described the development as a "welcome step" and the happiest day for the party.
The AIADMK workers broke into the celebration by bursting crackers and distributing sweets in front of the party headquarters here.
The development is a setback to the deposed party leader V K Sasikala, who is currently serving her term in a Bengaluru jail in a disproportionate assets case, besides her nephew and sidelined deputy general secretary TTV Dhinakaran.
Palaniswami told reporters here that their faction had provided all the necessary documents and affidavits to prove that it had the claim for it on its majority strength in various party fora.
The issue has been lingering since April in the aftermath of the announcement of by-poll to RK Nagar Assembly constituency here.
However, the April 12 by-election was cancelled days ahead on allegations of use of money power and malpractices.
The EC had then frozen the AIADMK party name and its symbol after then factions had staked claim over it.
Panneerselvam, who first revolted against Sasikala, later merged his faction with the one led by Palaniswami after the latter rebelled against her.