Augusta National, which did not allow women members until 2012, will hold a new women's tournament the Saturday before hosting next year's Masters.
The inaugural Augusta National Women's Amateur Championship will be contested over 54 holes by 72 players in 2019, said the club chairman Fred Ridley.
The first two rounds will be played at Champions Retreat Golf Club in Augusta.
A cut to the lowest 30 scores follows and the final round will take place at Augusta National on Saturday, 6 April.
The timing of the tournament could present some of the world's best women amateurs with a dilemma because the first major championship of the season - the ANA Inspiration - is traditionally played the week before the Masters.