The Bombers' 'heritage guernsey' will retain the club's famous red sash but will have a grey body that matches the grey colour used in Essendon's official emblem.
The jumper will be worn as the club's new alternate strip when Essendon is the away team against the Saints, Melbourne, Port Adelaide and Richmond after the AFL ruled it could no longer use its current clash strip with the widened red sash.
The specially designed jumper will also honour champion full-forward John Coleman with his name and signature, and has the name of every premiership player embedded on the breast of the jumper.
The back of the jumper will feature a post-war era Essendon emblem. The Bombers will also wear grey shorts when wearing the jumper. ??
Essendon, like rival Collingwood, has been hesitant in the past to change its jumper but chairman David Evans said the club needed to comply by providing a more "distinctive" clash jumper.??
In accordance with the directive to provide a fully compliant alternate jumper, the club has decided on a heritage based guernsey," Evans said.
"Through a lot of hard work and creative design we have made a real virtue of the need for the club to provide the AFL with a more distinctive alternate jumper."
The club consulted past players, premiership captains and key stakeholders when developing the jumper, with an aim to preserve its red sash.
Captain Jobe Watson said in a club statement that he enjoyed the new design.??
"I really like the concept of the jumper and think it looks extremely powerful from a design perspective," Watson said.
"To have the name of every premiership player included on the jumper is great recognition for the many players that have provided Bomber fans with so much joy over the years."
Bomber fans were the first to hear the news, with Evans sending an open letter to members on Sunday night.
Callum Twomey is a reporter for AFL media. Follow him on Twitter at @AFL_CalTwomey.
