However, Labour is still facing fresh divisions over the timing and strategy for backing a second referendum, with some anti-Brexit MPs anxious it will be put to a vote and defeated before there is a real chance of a parliamentary majority.
A briefing note to Labour MPs made clear the party would back the inclusion of Remaining in the European Union on the ballot paper, as an alternative to a "credible Leave option", but would not back no-deal being a choice on offer.
The Labour leader formally threw his support behind the campaign for a national poll after his own alternative plan for a Brexit deal was rejected by MPs.
After months of saying that Britain must leave the European Union on time on March 29, British Prime Minister Theresa May opened up the possibility on Tuesday of a short limited extension to the exit date.
"We will also be backing the Cooper-Letwin amendment to rule out a No Deal outcome".
After Wednesday's vote, Mr Corbyn said: "We will back a public vote in order to prevent a damaging Tory Brexit or a disastrous no deal outcome".
Besides leaving their parties for a range of reasons, including anti-Semitism in Labour and xenophobia in the Conservatives, the new party was the result not only of both main parties' toxic culture but also their leaders' intransigence on Brexit.
If it were to pass, Labour would then abstain on May's deal.
Meanwhile, Labour activists from the "Another Europe is Possible" group are targeting the constituencies of MPs who broke the whip and voted with the government over Theresa May's Brexit deal, calling it a "moment of reckoning".
But today's announcement will please Labour Party members.
This would indicate the party could still push for MP's to support its Brexit plan and not give full-throated supported to a second referendum.
The culmination of this process, for Labour, has meant that they have declared themselves willing to press for a further referendum if their own Brexit proposals are rejected by parliament (a racing certainty).
Opening up the possibility of a delay and removing the immediate threat of a no-deal exit on March 29 marks one of the biggest turning points in the United Kingdom's labyrinthine Brexit crisis since the 2016 referendum vote to leave the EU.
However, also on the programme was fellow Labour MP Lisa Nandy, who said many Labour-backers and even members of the shadow cabinet were dismayed at the Party's move to back a second referendum.
Even if they attract more defections from Labour and Tories, they can not magically change the parliamentary arithmetic and force the Commons to vote for a second referendum, because the numbers are still with May's Tories, supported by the DUP.
Would Labour campaign for remain?
It comes after Luciana Berger, a Jewish former Labour MP, quit to join new independent grouping and said she had been forced out by.