A new Eulerian variational principle is presented for the Vlasov-Maxwell eq
uations, This principle uses constrained variations for the Vlasov distribu
tion in eight-dimensional extended phase space. The standard energy-momentu
m conservation law is then derived explicitly by the Noether method. This n
ew variational principle can be applied to various reduced Vlasov-Maxwell e
quations in which fast time scales have been asymptotically eliminated (e.g
., low-frequency gyrokinetic theory).