RFEF president Luis Rubiales said the new competition would comprise the winner and second-placed teams in La Liga and the finalists in the Copa del Rey.
Historically the SuperCup has been dominated by Real Madrid and Barcelona with at least one of the two Spanish giants playing in the final every year since 2004.
"We want to ensure that the image of Spanish club football is not restricted to one or two clubs," explained Rubiales.
"This will open up the competition beyond these two or three sides to include different teams that may be attracted by this new source of revenue."
He added: "The winners of each of the semi-finals would go on to meet in the final with the competition held over four or five days."
The federation is due to discuss the new format in April.
Barcelona won their 13th SuperCup when beating Sevilla in Tangers, Morocco, last season.