The EFL announced clubs had passed a proposal to increase the number of play-off participants from four to six at an all-club meeting on Thursday.
The new format will include clubs finishing seventh and eighth in the league table and the additional teams will play a single-leg 'eliminator' tie against the clubs that finish fifth and sixth.
Winners of these eliminator matches will then progress to the two-legged semi-finals, where they will face the teams that finished third and fourth.
EFL Chief Executive, Trevor Birch spoke on the change he says will only improve competition for a spot in the Premier League.
“Since their introduction in 1986/87, the play-offs have become a highlight of the domestic football calendar, capturing the drama, suspense and jeopardy that make the EFL so special.
“Following several months of discussion with Clubs and other stakeholders, we are confident this change will further strengthen the Championship as a competition and give more Clubs and their supporters a genuine opportunity of achieving promotion.”
Sunderland won last season’s Championship play-off final and this victory was estimated to have secured a minimum of £200 million in extra income for the Black Cats as they thrive in the top division.
The Championship play-off final has come to be regarded as the most lucrative single game in world football and now that opportunity will be handed to more sides who would have normally missed out.