This paper is devoted to constructing a quantum version of the famous KP
hierarchy, by deforming its second Hamiltonian structure, namely the nonlinear
W^∞ algebra. This is achieved by quantizing the conformal
noncompact SL(2,R)k/U(1) coset model, in which W^∞ appears
as a hidden current algebra. For the quantum W^∞ algebra at
level k=1, we have succeeded in constructing an infinite set of commuting
quantum charges in explicit and closed form. Using them a completely integrable
quantum KP hierarchy is constructed in the Hamiltonian form. A two boson
realization of the quantum W^∞ currents has played a crucial
role in this exploration.Comment: 33