"This decision will allow us to support the post-conflict programme and will be of benefit to all Colombians," Xinhua news agency quoted EU Foreign Policy Chief Federica Mogherini as saying on social media.
The FARC, Columbia's largest rebel group, reached an agreement with the Colombian government on Monday in Cartagena on a peace deal to end more than 50 years of armed conflict.
According to the agreement, the rebel group must hand over weapons to the United Nations within 180 days.
The FARC has been listed on "EU terrorist list" since June 2002. The EU had applied restrictive measures against the organisation, such as freezing its assets and prohibiting EU citizens and organisations from providing it with funding or resources.
According to Belgian media Politico, the EU has pledged to provide $575 million to support the implementation of the peace process.
