Confirming the news, Football League Chairman Lord Mawhinney said: "I would like to compliment Football League clubs for having the foresight to make changes that will benefit the wider game.
"League clubs are at the forefront of developing young playing talent for the domestic game and are investing more than £40m a season in this important area.
"As a result of today's vote, those players being developed will have a greater chance to demonstrate their talent at first team level."