The bill is designed to help combat illegal migration and human trafficking, as well as to toughen penalties for crimes in this area within the European Union.
"We have delivered a robust legislative framework on how to deal with migration and asylum in the EU," the president of the European Parliament, Roberta Metsola, said on X.
The pact will now be formally approved by the European Council in the coming weeks. The EU member states will then have another two years to implement it.
Italian Interior Minister Matteo Piantedosi said on Wednesday that the approval of the pact by the EU Parliament is "the best possible compromise" after years of stalemate.
"After years of stalemate in migration policy, today's vote in the European Parliament has finally overcome the Dublin agreement," Piantedosi said, adding that, "together with other EU member states, we have found the best possible compromise that in any case takes into account Italy's priority needs."
He said Italy has succeeded in bringing migration policy back to the center of the European agenda, adding that the pact would provide "safer external borders, faster and more efficient asylum procedures, faster expulsions and more solidarity toward the countries of first entry."
Hungary will not allow undocumented migrants to enter the country despite the approval of the new migration pact, Hungarian Foreign Minister Peter Szijjarto said.
"This pact will give the green light for tens and hundreds of thousands of migrants to invade European countries ... We will not allow this to happen in Central Europe. We, Hungarians, no matter how much pressure is put on us, no matter how the representatives of the European Parliament vote on any migration pact, we will not refuse to physically close the borders, that is, we will protect the border. We will not allow undocumented migrants to enter Hungary from the south or the west, it is absolutely certain," Szijjarto told a news conference in the town of Paks.
Brussels does not provide Hungary with financial support to curb the flow of undocumented migrants on the EU's external border, the Hungarian ministry said, adding that the EU, on the contrary, pressures Budapest to "strive to preserve its identity and security."
Hungarian Prime Minister Viktor Orban has also slammed the migration pact as "another nail in the coffin of the European Union."
In December 2023, the EU agreed on new rules to handle irregular arrivals. The regulations, known as the Pact on Migration and Asylum, set out a common approach to migration and asylum, including more effective control and accelerated return of asylum seekers to the countries from which they came. The pact also introduced a mandatory solidarity of all EU states, requiring member states to accept undocumented migrants from other EU member states or provide financial or material support to these countries.
The Dublin Regulation, which has been in place since the start of the EU migrant crisis in 2013, is an agreement between the EU member states, Iceland, Switzerland, Liechtenstein and Norway that is designed to establish which of the EU member states is responsible for examining an individual's asylum application.