The ceremony will now take place on November 1 at London's Roundhouse in Camden, with the 'Album Of The Year' nominees to be revealed on September 12.
The change of venue - which is part of an initial three-year deal - will mean more tickets will be available for music fans through competitions and promotions.
All of this year's nominees will be invited to perform at the event, while each act will also headline a number of special gigs leading up to the ceremony.
"It's essential that the Barclaycard Mercury Prize proposition evolves and continues to deliver exciting and engaging experiences that appeal to music fans," said Dan Ford, Managing Director of the Mercury Prize.
"It's fantastic news that we are in a position to move forward with these plans in partnership with Barclaycard as part of their ongoing support of music in the UK."
The new deal for the Mercury Prize also means the award show will move to Channel 4 for more dedicated programming, including full coverage of all of the live performances to be broadcast on November 2.
PJ Harvey won last year's Mercury Prize for her album Let England Shake.
Watch PJ Harvey win the Barclaycard Mercury Prize 2011 below:
