The world's largest chip maker also agreed to give makers of complementary products access to its central processing units for the next six years.
The deal bars Intel from retaliating against computer makers if they do business with non-Intel suppliers.
Because the relief begins right now, we believe we will begin to see a more competitive landscape very soon, said FTC Chairman Jon Leibowitz.
Intel makes 80 percent of the world's microprocessors.
The company, which has denied any wrongdoing, said it did not believe the changes to its business practices would have a material impact on its financial results.
Intel has been under attack from rival chip makers for years over its aggressive pricing and sales tactics.
Urged on by Intel archrival Advanced Micro Devices
In its complaint, the FTC said Intel had been trying to shut out competitors in maneuvers that dated to 1999 -- the same year the agency settled a previous antitrust fight with the company.
(Reporting by John Poirier and Kim Dixon; editing by John Wallace.)