FIFPro has withdrawn its complaint against FIFA and the current football transfer system after the two organisations signed a landmark agreement to enhance the game.
In 2015, the union that represents players launched legal action with the European Commission, accusing FIFA of overseeing a transfer market that thwarts a level playing field among clubs and had been "tricking" football fans.
They also argued the current system failed to promote financial solidarity.
However, the complaint has now been dropped after FIFA agreed to set up a task force to study and conduct a broader review of the transfer system.
The promise is part of a six-year co-operation to "strengthen relationships and improve the governance of professional football."
"Today marks an important milestone in the improvement of the global governance of professional football," said FIFA president Gianni Infantino.
"I have witnessed unprecedented cooperation between FIFA, FIFPro, the European Club Association and the World Leagues Forum.
"These were complicated negotiations with the game’s key stakeholders and each one has made some compromises but at the end of the day, this agreement is beneficial for all and the ultimate winner is football.
"I'm looking forward to seeing the same collaborative approach for the discussions that will start now concerning a broader review of the transfer system. All parties – member associations, confederations, players, clubs and leagues – have an important role to play in this process."
Philippe Piat, FIFPro president, added: "This mutual understanding has helped set in motion the biggest changes to football transfer rules since 2001.
"While clubs in the richest leagues invariably treat players well, there are other leagues in which the employment rights of footballers are routinely ignored.
"These rule changes will help protect the 60,000 players FIFPro represents against unfair treatment."