The format of the six-discipline event was changed between the last two Olympics, although there were still three timed and three mass start events, and the International Cycling Union (UCI) on Thursday announced another overhaul.
Four mass start events feature, scratch, tempo, elimination and points race, and there will be no timed events at all in the discipline, which now takes place over one day, rather than two.
"Dropping the timed events means the omnium becomes a pure endurance event, bringing better balance to the track program," the UCI said in a statement.
The UCI has also sought to address concerns over the format of a number of other events, to make the program more compact and spectator friendly.
But the revised omnium format has four events that, to an untrained observer, look similar.
The scratch race is first past the post and the elimination race sees the last rider at the end of every other lap ruled out of the race until two riders remain and sprint for the line.
The points race sees points awarded at sprints every 10 laps and for gaining laps on the field.
The tempo is a discipline unfamiliar to many seasoned observers of international competition.
There are sprints every lap, beginning after five laps. The final placings are determined by accumulated points won during sprints and by taking laps, while any riders lapped by the field must leave the track.
"While it is important that we safeguard the essence of our cycling disciplines, we also need to be brave and embrace change in order to give our sport real meaning to those who are watching live or on screens across the world," UCI president Brian Cookson said.
The inclusion of a women's madison in the Track World Championships was also announced, with the UCI saying it is designed to bring "perfect parity between the men’s and the women’s events."
The UCI also announced restart the trial of disc brakes in road events. The decision comes after months of discussions between representatives of teams, riders and the industry, and after confirmation from the Cyclistes Professionnels Associés (CPA) and Association Internationale des Groupes Cyclistes Professionels (AIGCP) that they support the trial.
After extensive examination of the equipment and a detailed safety report, it has been agreed with manufacturers that the trial will restart on 1 January 2017 exclusively with discs which are modified to ensure the perimeter edge of the brake rotor does not contain any 90-degree edges but are smoothed or chamfered.
The trial will be closely monitored and formally reviewed on a monthly basis.