The social media giant says it is rewriting and redesigning the policy to make it easier to understand and to be clearer about how it uses people's information.
"While the text looks different in many places, Meta is not collecting, using or sharing your data in new ways based on this policy update and we still do not sell your information," Meta Chief Privacy Officer Michel Protti wrote in a blog post.
Meta said it was inspired by feedback from users and privacy experts with the goal of being more clear about data practices.
The company's handling of user data has been criticised in the past and in March the Irish Data Protection Commission fined Meta €17m. It followed an inquiry by the commission into a series of 12 data breach notifications it had received.
Meta says that its updated policy includes more details about how it uses and shares information with third parties.
It is also introducing new controls to manage who can see users' posts and to control what kinds of ads people see.
Users will begin receiving in-product notifications today and the new policies will come into effect in July.