The FA chairman referred to English football as "a tanker that needs turning" amidst criticism of influx of foreign talent, and the governing body is keen to action his vision
Dyke stated last Thursday that young English players were not developing properly because of too much competition for places from overseas players at top flight clubs.
Dyke referred to English football as "a tanker that needs turning" in his original address but insisted that his intention was "not designed to start a blame game" but to "work hand in hand with the [Premier] League" to improve the national team.
A statement read: "The Premier League clubs, board and executives will all contribute their expertise, knowledge and understanding of the issues and challenges in regard to producing England qualified talent who are of the requisite quality to play both at Premier League and international level.
"The structure of this engagement will be defined between the Premier League and the FA as more detail about the process envisaged by the FA chairman is established."
The governing body met with all 20 Premier League clubs on Thursday to put in place plans to expand on Dyke's vision, with the FA chairman also targetting a 2022 World Cup win for the England national team.
Dyke also commented that whilst English clubs have invested heavily in academies, a return has yet to be seen, and cited the need for young talent to have a place in the Premier League in order to develop.
"It is evident from discussions with the clubs that there is a strong desire to see greater numbers of England qualified players coming through their Academy systems that are capable of performing at both Premier League and international standard," Premier League chairman, Anthony Fry, said.
"There is no doubt around the Premier League table as to the benefits of a national set-up that is thriving and performing well.
"That is why the Premier League clubs, Board and Executive all signed up to contributing to the process of debate initiated by Greg and helping to identify any appropriate outcomes that will serve to improve standards and delivery in respect of player development."