FIFA's Executive Committee on Thursday "unanimously" approved a programme of reforms which includes limiting presidents to a maximum 12 years in charge and introducing "transparency of compensation" for leading officials.
In a statement, world football's governing body confirmed it had been agreed to introduce the reforms as part of broader measures in an attempt to restore credibility at the scandal-hit institution.
The Reform Committee, chaired by Francois Carrard, proposed introducing "maximum term limits of three terms of four years for the FIFA President as well as all members of the FIFA Council, the Audit and Compliance Committee and the judicial bodies."
Current president Sepp Blatter, who has said he will stand aside in February, was voted in for a fifth term at the helm of FIFA, having first won election in 1998.
His predecessor Joao Havelange was in office for 24 years.
However, there will be no age limit for aspiring presidents.
"The age limit by definition is arbitrary," Carrard said at a press conference on Thursday.
"What is important is to ensure renewal of terms. That is why we reached absolute consensus," added Carrard, who called the introduction of a maximum three terms as "realistic, sound, fair."
The reform proposals also include bringing in transparency on salaries.
Carrard called for "disclosure on an annual basis" of the "individual compensation" of the organisation's president, council members, secretary general and chairpersons of both independent committees and judicial bodies.
In addition, the reforms call for greater diversity with the promotion of women "an explicit statutory objective."
Integrity checks will also be "compulsory and comprehensive" for all members of FIFA's standing committees.
The programme of reforms must get the approval of the 209 member federations at FIFA's extraordinary congress on February 26.
However, Carrard said the Executive Committee had shown "impressive unanimity to approve a package of reforms.
"It is impressive to see all members, without any exception, showing determination to carry out this reform process. The next step will be the congress in February.