Arsenal will subsidise tickets for fans travelling to Madrid for the Europa League semi-final tie to ensure they pay no more than £36.50 Atletico supporters will pay at at the Emirates for the first leg.
The Spanish side have decided to charge visiting fans £79 for their tickets at the Wanda Metropolitana next month.
Supporters' liaison officer Mark Brindle said: 'We know our match in Madrid is already shaping up to be an expensive one for our supporters with the early May Bank Holiday increasing travel costs.
'On top of this, our fans are being asked to pay a higher 'non-member' price for their tickets to Estadio Metropolitano.
'We've decided to subsidise tickets for the second leg, meaning our travelling fans will spend the same as those from Atletico. Our travelling fans are the lifeblood of the club and we hope this measure helps to make their journey to Spain a little easier.'
Arsenal have been handed an allocation of 3,437 tickets for the tie, due to take place on Thursday, May 3.
The Arsenal Supporters' Trust had made representation to both the Gunners and Uefa and welcomed the move.
A spokesman said: 'We're very pleased that Arsenal have listened and are genuinely trying to help supporters.'