Cadbury will be part of the newly-named firm, with estimated revenues of $32bn (Â£19.6bn), as well as other brands such as Trident gum and Oreo biscuits.
It had previously announced plans to split into two independent companies.
The other company, focusing on its North American food business, will retain the Kraft name.
The new name was chosen from suggestions by employees, with more than 1,000 employees submitting 1,700 names for consideration.
Mondelez apparently comes from "monde", the French word for world, and the made-up word "delez", intended to evoke the word "delicious".
"It's quite a job for a single word to capture everything about what we want the new global snacks company to stand for," said Mary Beth West, Kraft's chief marketing officer.
Kraft controversially bought Cadbury for Â£11.5bn in 2010.
The new Kraft Foods business will take in brands including Kraft and Philadelphia cheeses, as well as Capri Sun.
Kraft has made a number of acquisitions in recent years, including LU Biscuits, from French food group Danone, and Cadbury.
The former Cadbury factory in Bristol was closed in January 2011, with the loss of 600 jobs.
US giant Kraft Foods, owner of UK chocolate maker Cadbury, has decided to name its new global snacks business Mondelez.