The number of events at Diamond League meetings will reduce from 32 to 24 next year, officials from the IAAF announced on Monday.
In a year-long review, the international athletics governing body also decided each meeting will scale down from two hours to 90 minutes.
There will be just 12 Diamond League meetings as opposed to 14, and only one season final from 2020.
And the longest distance track race will be set at 3,000 metres.
“We can make the Diamond League even stronger and more relevant to the world our athletes and our fans live in today,” said IAAF president Lord Coe.
The new season, which starts on 3 May in Doha, will be the 10th edition of the competition.