Energy Minister Mohammed al-Hamili has been replaced by Suhail al-Mazrouie, a prominent businessman, according to state news agency WAM and Prime Minister Sheikh Mohammad bin Rashid Al-Maktoum on his Twitter account.
Three other new ministers have also been appointed to "prepare for a new phase of economic development and for expanding cooperation with the rest of the world," said Sheikh Mohammad.
"The reshuffle brought in new young faces to renew ideas and follow up with changes and deal with important national matters that form a priority for all sons of the United Arab Emirates."
UAE President Sheikh Khalifa bon Zayed al-Nahayan has approved the new formation, said WAM.
The last cabinet reshuffle in the oil-rich Gulf federation dates back to May 11, 2009.
In the new cabinet the post of Prime Minister and Defence Minister will be served by Dubai ruler and Vice President Sheikh Mohammad bin Rashed al-Maktoum. Sheikh Saif bin Zayed al-Nahayan was elected as the Interior Minister and Deputy Premier.
Sheikh Hamdan bin Rashed al-Maktoum will be Deputy Prime Minister for Presidential Affairs for Finance.
Sheikh Abdullah bin Zayed al-Nahayan will handle the Foreign Affairs.
Culture, Youth and Community Development has been handed to Sheikh Nahayan bin Mubarak al-Nahayan
Sheikh Hamdan bin Mubarak al-Nahayan will be the minister for Higher Education and Scientific Research.
Development and International Cooperation will be handled by Sheikha Lubna al-Qassemi.
Other cabinet members include:
Mohammad Abdullah al-Gergawi minister for Cabinet Affairs, Sultan bin Said al-Mansuri minister for Economy, External Trade, Mariam al-Rumi minister for Social Affairs, Education and Teaching ministry will fall under Humaid Mohammad Obeid al-Qutami.
Abdul Rahman Mohammad al-Owais minister of Health, Saqr Ghubash minister for Labour, Hadef Jouan al Dhaheri minister for Justice, Rashed Ahmad bin Fahd minister of Environment and Water, Suhail al-Mazrouie minister for Energy.
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