The competition will be called the Europa Conference League.
The European football body said the competition is created with a view to giving more clubs in more countries a chance to participate in European football.
UEFA is also to expand the number of matches played in the Nations League following the success of the inaugural edition of the international competition.
The changes, revealed at UEFA’s Executive Committee meeting in Ljubljana, mean that League A, currently featuring the top twelve nations on the continent, will feature sixteen nations in four groups of four when the next tournament begins in the autumn of 2020.
