"The initial objectives of Financial Fair Play have been achieved" said the Slovenian after being re-elected UEFA president.
Aleksander Ceferin will remain as UEFA president until 2023 after being formally re-elected to the role at the governing body's congress in Rome.
The Slovenian succeeded Michel Platini in 2016 and ran unopposed for a second term in office, his extension ratified in Italy on Thursday.
Ceferin has been a strong advocate for Financial Fair Play and over the next four years he intends to adapt the scheme to ensure football continues to operate on a level playing field.
In his acceptance speech, the 51-year-old said: "During the next four years, we will adapt the Financial Fair Play rules in order to establish a new European balance in which everyone can find their rightful place.
"The initial objectives of Financial Fair Play have been achieved. European clubs are financially healthier than ever, the problem of debt has been sorted out in many countries, and unpaid debts owed to clubs, coaches and players seem to be becoming nothing more than a bad memory.
"Now it is time to move to the second phase of this major European project, in consultation with the ECA [European Club Association], so that every European club can exploit its full development potential."
As part of his manifesto, Ceferin also vowed to deliver a successful Nations League Finals, hold an "exciting" European Championships in 2020 and look to bring the 2030 World Cup to Europe.
UEFA's club competitions will be regularly reviewed to ensure they are "in keeping with the times, full of excitement and intensity".
Ceferin also confirmed UEFA's plans to launch its own streaming platform in the next six months, a service he believes will "make football more accessible for fans, all fans across the planet."
He added: "We are fully aware that a revolution is under way and are in the process of agreeing historic partnerships with the world's leading companies in this field.
"As you know, we have already started to move in this direction thanks for example to a sponsorship deal with the Alibaba Group. This partnership is more than a simple sponsorship deal. It's a first agreement that opens up new horizons, such as the creation of a centre of excellence in new football technologies or joint e-commerce projects."