The number of wheelchair-accessible taxis in the city is set to go from around 600 to more than 7,000, amounting to half the yellow taxi fleet.
The Taxi and Limousine Commission board voted unanimously to approve new rules Wednesday.
If all goes according to plan, 50 percent of the fleet will be handicap-accessible by 2020.
A 30-cent surcharge will be added to every ride to pay for the vehicle upgrades starting January 1, 2015.
The TLC says similar rules will go into effect for the Green cabs used in Brooklyn, Queens, the Bronx, Staten Island and part of Manhattan.