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The body has been named World Taekwondo Federation since 1973, but it has been considering a change since the slang abbreviation 'WTF' gained currency on social media.
"In the digital age, the acronym of our federation has developed negative connotations unrelated to our organisation and so it was important that we rebranded to better engage with our fans," World Taekwondo president Chungwon Choue said on the body's website.
The rebranding and launch of a new logo reflect a "commitment to evolving and adapting to remain relevant with today's modern audiences", World Taekwondo said.
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The new look for the Korean martial art was unveiled on the eve of the World Taekwondo Championships, which got underway in Muju, South Korea on Saturday.