The system sees individuals own the economic rights to players, meaning that they secure large financial gains for themselves when the player moves clubs.
Third-party ownership is already prohibited in England, where West Ham fell foul of the rule in the purchase of Carlos Tevez and Javier Mascherano, but it is still prevalent in countries such as Spain, Portugal and Brazil.
"The committee decided that the ownership of football players by third parties should be prohibited as a matter of principle," UEFA's statement read.
"Consequently, FIFA will be requested to issue relevant worldwide regulations prohibiting third-party ownership of players.
"UEFA would also be ready to implement a regulatory framework to prohibit third-party ownership arrangements in UEFA competitions, should FIFA not take the appropriate steps."
UEFA also indicated that there would be a transitional period of three to four years for clubs to meet the new regulations.
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