Players will still take the knee before the first and last games of the season, as well as in cup finals and on selected matchdays in October and March.
The Boxing Day fixtures where all of the clubs are playing at the same time on the same day will also see players taking the knee.
Premier League teams first started taking a knee in support of the Black Lives Matter movement in the wake of the death of George Floyd in 2020.
Many players now feel as though it has lost its impact in promoting a message of anti-racism, with some players already having stopped doing it.
The decision to stop taking the knee before every match was made by Premier League club captains, who met for talks to discuss whether the practice should continue.
Captains of Premier League teams issued a joint statement where they explained that they wanted to amplify the anti-racism message by doing it at specific matches rather than it becoming a routine occurrence before every game.
It read: "We have decided to select significant moments to take the knee during the season to highlight our unity against all forms of racism and in so doing we continue to show solidarity for a common cause.
"We remain resolutely committed to eradicate racial prejudice, and to bring about an inclusive society with respect and equal opportunities for all."
Some players have already stopped taking the knee, including Crystal Palace forward Wilfried Zaha, who stopped in February 2021 saying 'it doesn't matter whether we kneel or stand, some of us still continue to receive abuse'.
The clubs and the Premier League appear to be following the wishes of the players after long discussions over the future of using football to speak out against racism.
Premier League chief Richard Masters said everyone was still 'totally committed to the issue', he told the BBC the decision over taking the knee less often was made as the players 'fear it's losing power and momentum'.
There has been backlash to taking the knee, particularly for England players on international duty.
Players have been booed while taking the knee, with some of the jeers coming from their own fans as certain parts of the England crowd tried to claim showing support for the fight against racism was in some way 'Marxist'.
A total of £238,000 will also be donated to youth clubs in football after the royalties from selling Premier League club shirts with 'No Room For Racism' badges earned £119,000 and the Premier League agreed to match the total raised.