Tokyo 2020 will see mixed-gender events in athletics, swimming, table tennis and triathlon added to the Olympic programme in a bid to improve gender equality.
Following on from the addition of five new sports ahead of the Games in Japan - baseball/softball, karate, skateboarding, climbing and surfing - these further changes will introduce more youthful innovations and reduced the overall number of athletes competing.
Tokyo 2020 will now feature a total of 33 sports, with existing sports being given 15 more events, while there will be an overall reduction of 285 athletes from Rio 2016.
Athletics will welcome a 4x400m mixed relay race, while three new events have been added to the swimming programme - 4x100m medley mixed relay, men's 800m and women's 1500m freestyle races.
"It's something that would make things [at the Olympics] a little bit more fun," Olympic champion Adam Peaty told BBC Sport.
"Obviously it's very serious, but it's great to mix things up from what they've been for so long as it adds a little spice and they're great to watch."
Elsewhere, freestyle BMX and the Madison have been added to the cycling programme, while basketball will have a three-on-three event.
There will also be a mixed relay in the triathlon and mixed doubles in the table tennis.
"The fascinating new events that we approved today, together with the five new sports that were added to the Tokyo 2020 programme last year, represent a step-change in the Olympic programme," said IOC President Thomas Bach.
"I am delighted that the Olympic Games in Tokyo will be more youthful, more urban and will include more women."
IAAF president Lord Sebastian Coe added: "Athletics is the number one sport at the Olympic Games so we want to work with the IOC to drive effective and meaningful change.
"We will also work with the IOC on how best to introduce a mixed relay event in Tokyo following the huge success it enjoyed in IAAF world relays and Nitro Athletics this year."
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