The rule which comes into force for the start of next season means that a minimum four players in a club's matchday sixteen must have been registered domestically for a minimum of three seasons prior to their 21st birthday.
The rule changes means that any player who has come through a club's Academy or Centre Of Excellences or been signed before their 18th birthday, will be classed after July 1st as home grown regardless of their nationality.
Football League Chairman Lord Mawhinney said to the Football League website: "I would like to compliment Football League clubs for having the foresight to make changes that will benefit the wider game.
"League clubs are at the forefront of developing young playing talent for the domestic game and are investing more than £40m a season in this important area.
"As a result of today's vote, those players being developed will have a greater chance to demonstrate their talent at first team level."