The European Club Association (ECA) is to inject €60 million (£54m) into the Europa League each year from 2018.
The organisation, which represents a number of Europe's leading clubs, has announced it is to make the solidarity payment following consultation with governing body UEFA.
Among the stated objectives when the ECA signed a memorandum of understanding with UEFA in 2015 was to reduce the disparity in financial rewards between the Champions League and the second-tier competition.
A statement read: "With a view to strengthening unity and solidarity in European club football, it was decided to allocate an extra amount of €50million to the Europa League and €10million to the qualifying phase."
ECA chairman Karl-Heinz Rummenigge said: "I am pleased that within ECA we manage to reach quick and simple decisions for the good of football.
"ECA is a strong and reliable partner of UEFA. Solidarity is a key pillar of the European club football model, which has always been supported by ECA and its member clubs."