"This is definitely the best position to start from (P1). I need to make sure I do it tomorrow for these fans," said Hamilton, whose performance equals the record of fellow British driver Jim Clark in earning five pole positions at their home race.
It is also a third straight pole for Hamilton around the Silverstone circuit.
Lewis Hamilton (Mercedes) - Grand Prix of Great Britain 2017
Image credit: Getty Images
Hamilton still faced a nervous wait after race stewards announced they were investigating an incident involving French driver Romain Grosjean, who complained he had been blocked earlier in the session.
They swiftly decided to take no further action.
"I feel amazing, especially with a great crowd like this. I hope you liked the lap. I always try and save the best until last," said Hamilton as he waved to the fans.
"I knew how much support I had this weekend so I had to get that lap in."
Ferrari's Kimi Raikkonen will join the Mercedes driver on the front row, with championship leading team mate Sebastian Vettel qualifying third.
Hamilton's mastery of a damp but drying track lit up an overcast afternoon as he chalked up the 67th pole of his career, and sixth of the season, with every chance of equalling Michael Schumacher's 68 before the August break.
The triple world champion has won the last three British Grands Prix and starts as favourite to equal the late Clark's feat of four home wins in a row, and five in total, on Sunday.
Hamilton's Finnish team mate Valtteri Bottas, winner in Austria, was fourth fastest but has a five-place penalty following a gearbox change.
That promoted Red Bull's Dutch teenager Max Verstappen, who has suffered five retirements in the last seven races, to the second row.
Renault's Nico Hulkenberg and his former Force India team mate Sergio Perez filled the third row.
There was good news for beleaguered McLaren, who raised a cheer when Fernando Alonso made the most of improving conditions to set the fastest time in the first phase of qualifying, with Belgian Stoffel Vandoorne qualifying ninth.
That was the first time he had outqualified Alonso, who has a 30-place grid penalty, and will move up a place thanks to Bottas's drop.
Australian Daniel Ricciardo, a winner in Azerbaijan in June, will join Alonso at the rear after a gearbox penalty followed by the car halting on track in the first phase and bringing out the red flags
Qualifying from the Formula One British Grand Prix at Silverstone on Saturday
1. Lewis Hamilton (Britain) Mercedes 1:26.600
2. Kimi Raikkonen (Finland) Ferrari 1:27.147
3. Sebastian Vettel (Germany) Ferrari 1:27.356
4. Valtteri Bottas (Finland) Mercedes 1:27.376
5. Max Verstappen (Netherlands) Red Bull - TAG Heuer 1:28.130
6. Nico Huelkenberg (Germany) Renault 1:28.856
7. Sergio Perez (Mexico) Force India - Mercedes 1:28.902
8. Esteban Ocon (France) Force India - Mercedes 1:29.074
9. Stoffel Vandoorne (Belgium) McLaren 1:29.418
10. Romain Grosjean (France) Haas - Ferrari 1:29.549
- - - - - - - - - -
11. Jolyon Palmer (Britain) Renault 1:30.193
12. Daniil Kvyat (Russia) Toro Rosso - Renault 1:30.355
13. Fernando Alonso (Spain) McLaren 1:30.600
14. Carlos Sainz Jr (Spain) Toro Rosso - Renault 1:31.368
15. Felipe Massa (Brazil) Williams-Mercedes 1:31.482