The company said the lease was secured after MeyGen satisfied the development obligations contained within its five-year agreement for lease that was signed in October 2010.
Atlantis claims it is the largest marine energy lease to be awarded by the Crown Estate.
MeyGen chief executive Dan Pearson said: "Signing the Lease with the Crown Estate is a significant achievement, being the first of its kind and demonstrates how a commercial-scale energy project can be designed, consented, engineered and funded within four years.
The Crown Estate ocean energy head Ronnie Quinn said:"Our commitment to invest in and agree a lease for the Meygen project continues our strategy to explore tidal stream energy on a commercial scale and its potential to help unlock the nation’s tidal energy resources over the long-term."
Atlantis has recently raised more than £50m in funding for the first phase of the Meygen project.
Construction on phase one is expected to start later in 2014 with the first power planned to be delivered to the grid by 2016.
The first phase of the project is expected to generate about 86MW of electricity, enough to meet the energy needs of about 42,000 homes.
Swiss power technology firm ABB will provide the onshore grid connection for the first phase of the project.
Image: The first phase of the MeyGen project is expected to provide enough electricity for 42,000 homes in Scotland. Photo: Courtesy of Rawich/FreeDigitalPhotos.net.
