Fifa is to use match suspensions, points deductions and disqualification from competitions as possible punishments against acts of racism.
Blatter says action needed to be taken after recent events
Clubs face being deducted three points for a first offence, six for a second and relegation for further offences.
Member associations failing to implement them face being banned from international football for two years.
"Recent events have demonstrated there is a need for concerted action," said Fifa president Sepp Blatter.
"I have repeatedly stressed Fifa's and my firm personal stance against racism and discrimination."
And he pledged "more severe measures to be adopted in order to kick this evil out of the beautiful game".
The new measures will be in place at this year's World Cup.
Cameroon international and Barcelona striker Samuel Eto'o has been a victim of persistent racial abuse in La Liga.
He recently had to be stopped from walking off the pitch after receiving abuse during a game against Real Zaragoza.
Zaragoza were fined just £6,000 by the Spanish Football Federation.
Manchester United's Rio Ferdinand also recently stated football's authorities had to take a tougher stance against the problem.
French international Lilian Thuram gave a testimony to the Fifa meeting on Thursday.
Fifa spokesman Andreas Herren said: "The new rules take effect essentially as soon as we can notify the associations by way of a letter.
"It's not going to take a long time. It applies to all competitions throughout the world at any level. All matches of all types are covered."