Instead, content that sparks conversations among family and friends using the site will be emphasised, explained chief executive Mark Zuckerberg on his page.
Organisations on Facebook may see the popularity of their posts decrease as a result, the firm acknowledged.
The changes will take effect over the coming weeks.
"We've gotten feedback from our community that public content - posts from businesses, brands and media - is crowding out the personal moments that lead us to connect more with each other," wrote Mr Zuckerberg.
He said that he and his team felt a responsibility to make sure Facebook was good for people's wellbeing.
If public content is to be promoted, it will now have to be seen to encourage community interaction - as happens within the tight-knit groups that discuss TV programmes and sports, he said.
"By making these changes, I expect the time people spend on Facebook and some measures of engagement will go down," he added.
"But I also expect the time you do spend on Facebook will be more valuable."