A groups feature will allow users to specify circles of friends with whom they want to share different data.
For the first time, users will also be able to download all the data they have uploaded onto the site.
They will also find it easier to see how individual applications are using personal information, Facebook's chief executive Mark Zuckerberg said.
"The changes today are about giving people more control over how they share in a lot of different contexts," Mr Zuckerberg told BBC News.He added:
"One of the things we have heard is that people just want to share information with smaller groups of people.
"It will enable people to share things that they wouldn't have wanted to share with all of their friends."
"There are some things you are comfortable saying to all your friends at once but a lot of things you only want to share with your close co-workers or your family and there just hasn't been a great way to do that until now."Read More BBC News - Facebook unveils 'groups' feature and user controls>>
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