The Ipsos Mori poll puts the Tories on 49 per cent while Labour is up eight points to 34 per cent.
Mr Corbyn appears to have benefited from publicity over his far Left manifesto at the expense of the Lib Dems who have seen support collapse by 6 points to just 7 per cent.
According to Electoral Calculus, the respected election prediction site, the latest poll would give the Tories 382 seats up 52 if it was replicated in the country on 8 June.
Labour would lose 45 seats but win former Lib Dem leader Nick Clegg’s Sheffield seat as minor compensation putting them on a post war low of 188.
After a shambolic manifesto launch, Tim Farron’s Lib Dems would almost be wiped out dropping from nine to just four seats.
The poll of 1,053 adults was taken across the UK between 15 and 17 May and it suggests that the result could be even stronger for the Tories.
According to the poll 59 per cent believe Mrs May would be the best Prime Minister with just 31 per cent saying that the hard Left Mr Corbyn should be in 10 Downing Street.
Labour shouldn’t get too carried away by the rise they see in the polls
The strong polling for Mrs May comes as Tory candidates report that the Prime Minister’s personal popularity is leading Labour voters to switch to the Conservatives.
Julie Marson, who is targeting the previously safe Labour seat of Dagenham and Rainham, said: “We are finding a lot of people on the doorstep saying ‘I am a lifelong Labour voter but this time I’m voting for Theresa’.
“They make it clear they don’t want Jeremy Corbyn.”
The research also revealed that two in five voters who said they would vote Labour are considering switching to the Tories.
However, senior Tories have warned that the surge in support for Labour shows that voters should not take a Conservative victory for granted.
A senior source said: “We need everybody to come out to vote and not assume the result is in the bag otherwise we could end up with a Prime Minister Corbyn and a coalition of chaos with other parties like the Lib Dems, SNP and Greens.”
Gideon Skinner, head of political research at Ipsos MORI, said: “Labour shouldn’t get too carried away by the rise they see in the polls.
“The focus on their manifesto may have helped them this week, but on many fundamentals such as leadership, the public still puts them a long way behind the Conservatives, and their vote is much softer, with one in six of their supporters considering voting for Theresa May’s party.”