The School Reform Commission, the city school district's governing body, agreed to both state and federal oversight in a vote Wednesday.
Asian advocates say the federal consent decree will hold South Philadelphia High School officials responsible for keeping students safe from racial and ethnic violence.
About 22 percent of the students are Asian, some of them new immigrants.
About 30 Asian students were injured last year in racially motivated attacks by other students. The assaults prompted boycotts by Asian students and the state and federal investigations.