The UEFA president will meet the leaders of his 54 member federations at the Champions League draw in Monaco before holding a news conference to explain his decision.
"He will present his plan and they will give him their feedback," UEFA spokesman Pedro Pinto told the Associated Press on Tuesday. "It is always his policy to consult the national associations before making a big decision."
Platini is the long-time favourite to succeed Blatter, but would have a daunting task to unseat a rival who turns 79 before election day next May.
Blatter has led FIFA since 1998 and a successful, profitable World Cup only boosted his standing with football officials who show little desire for change.
Five of FIFA's six continental bodies already supported Blatter's expected candidacy at pre-tournament meetings in Brazil. Europe alone publicly opposed him.
Platini said then that FIFA "needs a breath of fresh air."
"In the future I won't support Blatter anymore. I've told him that," Platini said on the eve of the World Cup in Sao Paulo.
Still, Blatter appeared confident and relishing a contest this month when he called out critics he did not identify.
"Don't speak - go out and fight," Blatter said at an annual event for his charity foundation in Switzerland. "And I am happy to fight. But if you take the risk (to be in the election) you also have the chance to lose."
Blatter has yet to formally declare his candidacy with FIFA setting a January deadline. The May 29 election is a secret ballot of FIFA's 209 member countries in Zurich.
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