The new name comes with just over two weeks until the new batch of MEPs take their seats in European Parliament.
European Parliament group Alliance of Liberals and Democrats for Europe Party has announced it will rebrand as Renew Europe.
The move comes after French President Emmanuel Macron's En Marche party, as well as other national parties, joined the group known as ALDE.
Group leader Guy Verhofstadt in a statement said: "Our new group is stronger than ever and has the unique chance to shape Europe."
"There is a lot of work ahead of us. Our mission is to renew Europe. We are inspired to build a free and fair Europe."
The unveiling of Renew Europe comes the same day Euronews confirmed that the nationalist Europe of Nations and Freedom group — which houses Matteo Salvini's League party and Marine Le Pen's National Rally — will dissolve and be renamed as Identity and Democracy.
ALDE's rebranding is likely to be to the liking of Macron, who unveiled his Renaissance platform ahead of May's European elections.
But not everyone within ALDE is overly enthusiastic with the change. British Liberal Democrats MEP Chris Davies tweeted: "This should keep our new French partners content, but many of us will continue to refer to it as the Liberal Group."