In a move which provoked criticism on social media, EasyJet said the changes to its luggage policy will start on February 10, the BBC reported.
Customers who don't buy the more expensive tickets will be restricted to putting a small carry-on bag under their seat. Presumably while the baggage lockers remain empty.
EasyJet defended the charge, saying it would "improve punctuality".
Currently, all EasyJet customers are allowed to fly with a cabin bag measuring up to 56 x 45 x 25cm, enabling them to put small wheelie suitcases into overhead lockers.
But under the new rules, passengers who want to travel with an additional bag of this size as hand luggage must buy a more expensive ticket such as an Up Front or Extra Legroom seat. Prices range from £7.99 more expensive than a standard fare, up to £29.99 on longer flights.
People who buy a more expensive Flexi fare or are members of the carrier's frequent flyer scheme will continue to be allowed to take one small and one large item of hand luggage with them, subject to space on board.
EasyJet customers with an existing booking for travel from February 10 who do not want to pay more will be able to check in a larger cabin bag in the aircraft hold free of charge.
Robert Carey, chief commercial and customer officer for EasyJet said: "Punctuality is important to our customers and we know that if they have their bags placed into the hold at the gate due to the limited space onboard this can cause flight delays, and it can be frustrating for them too.
"Our new policy will improve boarding and punctuality for everyone, as well as give our customers certainty of what they will have with them onboard."
Rival British Airways' cheapest fares include one large and one small item of hand luggage.
EasyJet expects to fly at just 20% of normal capacity into next year - which rather kills the punctuality argument stone dead.