The 110lb bomb was discovered by builders near Wembley Arena and a number of local residents were evacuated from the area.
The Ministry of Defence confirmed to Sky Sports News HQ that the bomb has been removed from the area and been taken away to an unspecified location for detonation.
Chief Detective Chief Superintendent Mickey Gallagher, from the Metropolitan Police, said: “I must also thank our courageous soldiers from various Army regiments for working tirelessly for over 24 hours, using their skill and experience to safely bring this incident to its conclusion.
“Wembley are really happy, for all fans that are coming to the area for the weekend it’s business as usual.”
Southend take on Wycombe in the League Two match on Saturday at 5.30pm, Preston meet Swindon in the League One game on Sunday before Norwich take on Middlesbrough in the Championship final on Bank Holiday Monday.
The unexploded bomb is thought to have been dropped by a German bomber during the London Blitz in the early 1940s but it is being dealt with by the Royal Logistics Corp.
Watch the play-offs live on Sky Sports all weekend, starting with Southend against Wycombe on Saturday at 5pm on Sky Sports 1