The campaign, which is being co-ordinated by England's Professional Footballers' Association, urges players to stay off all social media from 9:00am local time (0800 GMT) Friday after posting the hashtag #Enough.
There have been growing concerns over how football should tackle racism following a number of incidents of abuse both at grounds and on social media
England's black players faced repeated racist chants during their Euro 2020 qualifier in Montenegro last month.
Danny Rose said afterwards he had "had enough" and "can't wait" to quit the game, with the Tottenham defender adding attempts by football authorities to punish racist incidents were "a farce".
Rose, giving his support to the PFA boycott, said: "When I said that I can't wait to see the back of football, it is because of the racism that I, and many other players, have been subjected to our entire careers.
"Football has a problem with racism. I don't want any future players to go through what I've been through in my career.
"Collectively, we are simply not willing to stand by while too little is done by football authorities and social media companies to protect players from this disgusting abuse."
The PFA said they wanted to show solidarity with affected players as well as demanding that football chiefs take stronger action to rid the game of racism.
"Over the last few months we have seen a rise in appalling instances of racist abuse at grounds around the world, and on social media," said Simone Pound, head of equalities at the PFA.
"We cannot stand by while too little is done to address this unacceptable behaviour."
Pound added: "The PFA has always been at the forefront of tackling racism and we are reaffirming our commitment to all of our members. We will do all we can to put an end to the abuse players face on the pitch and online."