The Uefa Cup is to be renamed the Uefa Europa League from next season, with the competition set to be extended.
The new-look league will have 48 clubs in 12 groups of four, with teams playing each other home and away as opposed to just once as it stands now.
The top two in each group then join the eight third-placed Champions League clubs in a 32-club knock-out stage.
However, under the new format beaten cup finalists will no longer qualify for the competition.
Millwall and West Ham have both qualified as beaten FA Cup runners-up in recent years, but Uefa say this will no longer be the case, even if the winners have already qualified for the Champions League.
The competition will also have its TV rights sold centrally, in the same way as the Champions League, which should increase income to clubs.
"I am convinced the new format will give the Uefa Europa League a successful new impetus," said Uefa president Michel Platini.
What do you think of the changes? Will they ensure the Uefa Cup is seen as a more viable alternative to the Champions League? And what about the decision to exlude cup runners-up from the Cup?
Let us know your thoughts.