Fifa will propose a limit on the number of foreigners who can play for a club and are also set to give players an official voice in decision-making.
World football's governing body has joined forces with international players' association FifPro in order to tackle the problems facing the sport.
Their proposal is the implementation of a six plus five system, whereby six members of a side must be homegrown.
The two bodies will also look at racism corruption, betting and doping issues.
Fifa president Sepp Blatter described the signing of the agreement between the two organisations as a "historic day" for football.
Blatter, flanked by FifPro president Philippe Piat and Barcelona stars Samuel Eto'o and Lilian Thuram, said: "The players form an important part of our footballing family and must be part of the decision-making at international level."
At the moment, clubs are not so interested in forming players because they know that later on, they may leave
Fifa president Sepp Blatter
On the proposal to put limits on the number of foreign players, Blatter added that it would "protect the national teams".
"At the moment, clubs are not so interested in forming players because they know that later on, they may leave," he stated.
"We do not want to put an end to transfers but hope to bring back the local or regional base that existed previously."