The PFL has reduced prize money from $1m to $500,000 (£409,000) as part of sweeping changes to its regular-season format.
The group stage has been scrapped, with the tournament switching to a single elimination format that includes first round, semi-finals and finals.
The PFL has added two weight classes – middleweight and bantamweight – to take the total to eight.
The opening first-round event will be held on 3 April, but no locations or fights have been announced.
The finals will take place across three events in August rather than a single fight night as in previous years.
This month the PFL said Bellator would no longer continue and that all Bellator fighters would compete under the PFL brand.
It is unclear which fighters will compete in the PFL tournament and who will compete in standalone fight nights this year.
Britain’s Dakota Ditcheva won the women’s flyweight tournament – and $1m in prize money – last year.
It is uncertain whether she will opt to compete in another season in the US given she has said she wants to compete on home soil in Manchester this year.
Brendan Loughnane is the only other Briton to win a PFL tournament, claiming the featherweight title and $1m in prize money in 2022.