The International Cricket Council has rejected the proposal for a two-tier Test Championship after the governing body held a meeting in Dubai this week.
The proposal is believed to have been supported by six of the ICC's full members, specifically Australia, England, South Africa, New Zealand, Pakistan and West Indies.
Cricket's financial superpower, India, was however opposed to the idea which they believed would harm the smaller cricket boards and hamper the growth of the game.
ICC chief executive David Richardson said after the meeting: "There are some complexities, not least because of scheduling and existing structures, but we envisage the changes being implemented for 2019.
"Members will now revert to their boards to share the details of the proposed revised structures and principles.
"Work will continue to develop a clear structure and position for each format over the coming months as the ICC collectively focuses on improving bi-lateral cricket for fans and players in the long run."
The ICC has been mulling changes to the structure of Test cricket since 2013 but have yet to find a solution to the longest format's dwindling popularity and increasing lack of relevance.