The move means that the UK will be able to attract talent from around the globe, the organisation said.
Students will be eligible for both a stipend to support living costs and fees at research organisations UK rate.
“International PhD students are invaluable to supporting our world-leading research”
“International PhD students are invaluable to supporting our world-leading research across a range of disciplines, providing new energy, ideas, and creativity,” said science minister Amanda Solloway.
“Through our ambitious R&D Roadmap, we want to make it easier for top global science, research and innovation talent to come to the country so we can cement the UK as a science superpower. [This] measure is a key part of that.”
UKRI added it would “normally limit” the proportion of international doctoral training students to 30% of its total appointments.
While the funding will not cover international fees set by universities, students will be permitted to find international tuition fees from other sources, it continued.
Further details will be laid out later in 2020, ahead of the change coming into effect in August 2021.
Earlier in 2020, the UK confirmed EU students would no longer be eligible for home fee status in England, Scotland and Wales.
UKRI also announced an external advisory group for the development of the Global Talent Visa – revealed in 2020 – in August.