"This is a very sad day for our game. This should be an indicator to the future for all of us, where self-interest and short-term deal making will override the long-term health of the game and views of its key stakeholders," FICA executive chairman Paul Marsh said in a statement.
The ICC on Saturday approved its radical reform plans aimed at bringing about improved governance, a move that will give India, Australia and England significant control over revenue and power structure of the world's governing body.
The global players' association had urged other Test playing nations to block the proposals.
"Of extreme concern to all involved in Fica is the fact that so many key stakeholders in the game condemned the proposed changes ... Yet the ICC Board still approved these changes," said Marsh.
He said FICA and its members would continue to oppose the reforms.