Other top leagues across Europe like the La Liga, Bundesliga, Serie A and Ligue 1 already have winter breaks factored into their schedule.
The European football market was worth 21.9 billion pounds, with the English top division the clear driver.
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The deal will also add to the rich legacy which Premier League executive chairman Richard Scudamore will leave when he steps down later this year after almost two decades in charge, first as chief executive and then in his present role since 2014.
However, the introduction of any kind of break is likely to be welcomed by Premier League clubs.
Deloitte said that for the first time no English top-flight club recorded an operating loss, while the wages-revenue ratio fell to its lowest since the 1997-98 season, to 55 percent.
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"It's no secret that we have a very congested fixture calendar and over recent years we have been working with the whole game to find a solution", said FA chief executive Martin Glenn. Also, from the start of the 2019/20 season, fifth-round replays will be removed and replaced with extra-time and penalties.
It will be structured so that there are still Premier League matches over every weekend - there will be five one weekend and five the following weekend with all the matches broadcast live in the United Kingdom - but every club will have guaranteed time off.
The 2019-20 will be a season of even more change following the announcement that Amazon will show 20 Premier League matches a season for three years from 2019 after winning one of the final two broadcast packages. "We will look to showcase the EFL during the two week period".
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In a statement, EFL chief executive Shaun Harvey said "it is now impractical even if it was desirable for the EFL" to take part in the mid-season break because of the scheduling challenges of playing 46-game seasons and play-offs.