Two special tributes will be worn on Premier League player's shirts for the first 12 matches of the season.
The phrase 'Black Lives Matter' will be written on the back of player's shirts instead of their names.
For the rest of the season a BLM badge will feature on all playing shirts, as well as a badge thanking the NHS for their hard work during the coronavirus outbreak.
The Premier League also said that they would support any players who want to 'take the knee' before or during matches.
This is a gesture which was started by a former professional American Football player named Colin Kaepernick, who knelt during the national anthem before a game in 2016, to protest against racial inequality.
In a statement the Premier League said: "We, the players, stand together with the singular objective of eradicating racial prejudice".
A joint message from all 20 clubs added that they were committed to: "a global society of inclusion, respect, and equal opportunities for all, regardless of their colour or creed".
Former England, Newcastle and Spurs midfielder Jermaine Jenas said he thought the decision was "brilliant" and a "great message" but wondered if it was enough: "What about the week after? Does it just fade out and it's 'OK, we did our little bit and it's gone now'. Or are we actually going to see some real change within our game, our own house?"
The Premier League will restart behind closed doors on 17 June after being suspended for three months because of the coronavirus pandemic.