The suggestion of the committee, which met in Dubai under the chairmanship of Sunil Gavaskar and comprised 12 other international players, means that a team can bring in an extra player for batting while leaving him for a bowler at a later stage of the match and vice-versa.
Gavaskar, said these innovations would introduce a new tactical dimension to ODI cricket.
"I think the changes to the way the fielding restrictions work will enliven the game and introduce a new element of unpredictability throughout the course of an innings," said Gavaskar.
"It will also be interesting to see how sides adapt to the tactics of introducing a substitute and to see what impact this has on selection issues and it is recommended that this be introduced in time for the Johnnie Walker Super Series in Australia this October."
The meeting also made a series of recommendations in relation to the playing of the game, which would now be considered by the ICC chief executives' committee at its next meeting in England on June 24-25.