The Minister for Agriculture has hailed the deal on the reform to the Common Agricultural Policy as a major step forward for all in the agri-sector.
The agreement follows two days of intense talks in Brussels chaired by Simon Coveney.
The deal will now have to be finalised by the EU Council, the European Parliament and the European Commission - with an agreement set to be reached by June.
The Irish Farmers Association has said the deal contains "important flexibilities" - but the group maintain that farmers will still lose a significant amount of money.
Minister Coveney says it lays out important plans for the future of the industry: