The changes come into effect at the end of this month, with the new online edition making its debut on May 1.
Delivered on Fridays, it will be a feature-driven publication, retaining the most popular elements of PRWeek's current weekly print offering, while its new online format enables additional features like, videos, blogs, and other information.
The first monthly print edition will be out in June. It will feature more editorial content, deeper analysis, and more interviews and features with the top professionals and companies in the industry.
Popular specials, surveys and supplements will still be produced in print.
Julia Hood, publishing director at PRWeek, said: "Our monthly content will look much deeper into the trends and issues that are facing the industry.
"The new magazine will be in the standard magazine-size format, and has been completely redesigned, offering an exciting new look that reflects a fresh approach to our coverage."
PRWeek will also be relaunching its daily newsletter, to be called PRWeek Breakfast Briefing, to highlight breaking news and commentary. It will also debut on May 1.
The PRWeek website, , just had a record month in March, with the highest number of page views and visitors in its history.
All content on the site, which will continue to provide breaking news and commentary, will now be gated to subscribers, starting on April 27.
Hood said: "We believe strongly that the new editorial package will offer readers the very best balance of our current coverage, with a whole new level of insight and depth that a weekly print format could not enable us."
The subscriber package will now include monthly print magazine, full access to all contents of PRWeekus.com, daily PRWeek Breakfast Briefing, weekly digital edition, and annual PRWeek Contact directory.
The last weekly print issue will be the April 27 Agency Business report.
PRWeek US is owned by Haymarket Media, which publishes Brand Republic.
The title was Haymarket's first weekly title in the US and began publication in November 1988.