From April 2016, telecoms operators will be able to add a surcharge of no more than:
€0.05 (3.5p) extra per minute for calls
€0.02 extra per SMS sent
€0.05 extra per megabyte of data used
The cap would make roaming within the EU 75% cheaper during the interim period, the European Commission said.
The agreement is the culmination of years of campaigning to cut roaming charges and to define the EU nations' approach to regulating internet traffic - particularly in light of the US adoption of net-neutrality rules.