Chief executive Keith Pelley has vowed to make the European Tour a "viable alternative" to its American counterpart, the PGA Tour, within three to five years.
The world's top players view the PGA Tour as the number-one option given its bigger prize money, but Pelley wants to change that in years to come.
He has pledged to increase prize funds, lead the fight against slow play and adopt a "players-first" philosophy
"We need to provide a viable alternative to the PGA Tour for our elite, medium and low-ranked players. End of story," PA quotes Pelley as saying ahead of this week's DP World Tour Championship, the European Tour finale.
"We need to be too important to be dismissed from our sponsors, from our stakeholders, from our players. And that means we are going to have to increase our prize purses.
"That won't happen overnight. That's not going to happen necessarily in 2016. You'll start to see it happen in 2017. You'll start to see it come to fruition in 2018. We definitely in three to five years will have a viable alternative, so that players don't necessarily need to go to America to be able to make as much money as they possibly can."
The number of tournaments required for membership was recently reduced from 13 to five, excluding majors and WGC events, to make it easier for US-based players outside the world's top 50 to join the Tour.
