Keir Starmer is on course to lead Labour to a thumping victory.
The Survation survey of more than 12,000 people for the UK Spirits Alliance predicts the Tories will return just 156 MPs - around 200 less than they have now.
Labour, on the other hand, would see their number of MPs soar to 431, handing Starmer a 212-seat majority.
In 1997, Blair’s New Labour won a majority of 179 and ended up holding on to power for 13 years.
The findings are yet another blow for Rishi Sunak, who has failed to turn around the Tories’ fortunes since becoming prime minister a year ago.
In recent days he has also been embroiled in a row with home secretary Suella Braverman over her article in The Times accusing the police of having a left-wing bias.
It later emerged that Braverman had defied the prime minister by ignoring No.10′s request for changes to be made to the piece before it was published.
Sunak is now under intense pressure from many within his own party to sack the home secretary, but that could spark an angry backlash from right-wing Tory MPs.
Starmer, on the other hand, will be delighted at the poll’s findings, which come despite his own internal problems.
The Labour leader is facing a major rebellion by dozens of his own MPs - including many frontbenchers - over his refusal to support calls for a ceasefire in the Israel/Hamas war.