Martin Whitmarsh is confident the proposal to allow testing in the wake of some grand prix weekends is the best way to keep costs down.
In-season testing was banned from Formula One in 2009 in a bid to keep costs down. It wasn't long, though, before teams began to complaining about the lack of testing.
The end result is that as of next season there could be four two-or three-day tests held in the wake of various grand prix weekends.
The proposal still has to be signed off by the World Motor Sport Council, however, Whitmarsh believes it is the best possible solution.
"Historically I have always supported a limitation on testing, as well as a whole range of other limitations, but the compromise being struck of testing at a circuit on the Tuesday/Wednesday/Thursday after a race in Europe makes it a little bit more practical," he told Autosport.
"What we have also done is take out plethora of demo runs, aero runs, and the young driver test.
"It is a balance and a compromise that has been struck, which I hope a majority of the teams support.
"We have to, nonetheless, continue to find ways we can save costs for the small teams, and be mindful of the challenges that they have as a business."
Whitmarsh added revealed that any attempts the teams try to make to monetise the tests will have to be cleared by Bernie Ecclestone.
"We have tried and done a little bit of that, and by testing together you can do a deal with the circuits.
"But it is more a matter for the commercial rights holder, because when we are running together he owns the rights."