The PGA Tour has agreed to merge with Saudi Arabian-backed circuit LIV Golf in a deal that ends the acrimonious split in the sport.
The surprise announcement comes after a year of unprecedented disruption in the men's game following the launch of LIV.
It means pending litigation between the tours will be halted and they will move forward as part of the same enterprise.
"This is a historic day for the game we all know and love," said PGA Tour commissioner Jay Monahan.
An agreement has been signed that will combine the PGA Tour and LIV's commercial operations and rights into a new, yet-to-be-named for-profit company.
The agreement includes the DP World Tour, formerly known as the European Tour.
The emergence of the LIV circuit fractured men's professional golf over the last year, with several top players lured by its huge prize funds and no-cut events, which include a team format.LIV Golf is backed by the Saudi Arabia Public Investment Fund (PIF), an entity controlled by the Saudi crown prince and which has been embroiled in anti-trust lawsuits with the PGA Tour over the last year.
"This is a momentous day - to partner in this new entity is energising and exciting," said DP World Tour chief executive Keith Pelley.
Monahan, his counterpart on the PGA Tour, confirmed that the team element to LIV's format will remain in some form going forward.
"This transformational partnership recognises the immeasurable strength of the PGA Tour's history, legacy and pro-competitive model and combines with it the DP World Tour and LIV - including the team golf concept - to create an organisation that will benefit players, partners and fans," he added.
An anti-trust lawsuit against the PGA Tour was originally filed last August by 11 golfers before being taken over by LIV Golf. It was scheduled to be heard in 2024.
In April, the DP World Tour won its legal battle against 12 LIV players who committed "serious breaches" of the Tour's code of behaviour by playing in LIV Golf events without its permission.
The subsequent increased fines and suspensions prompted Lee Westwood, Sergio Garcia, Ian Poulter and Henrik Stenson to resign their memberships and become ineligible for this year's Ryder Cup, which will take place from 29 September to 1 October.
Stenson had been selected as captain of the European team for the matches in Rome, but when he joined LIV he was sacked and replaced by Luke Donald.
Those players could now return to the fold, with the new enterprise pledging to establish a "fair and objective process" for players to re-apply for membership after the end of this season.
More to follow.