Blatter had said he would retire next year but has now indicated he will stand again if asked to do so by member associations - a formal announcement is expected at the FIFA Congress in Sao Paulo in June.
The 77-year-old has called on the International Olympic Committee to scrap its age limits and says he still has work to do in football.
He told Swiss broadcaster RTS: "I'm healthy and I do not see why I should stop working, especially as the consolidation of FIFA needs to continue.
"If the member associations ask me to be a candidate I would not say no."
On age limits, which is also on the agenda at FIFA, he added: "In terms of human rights, an age limit is discrimination."
The only person to announce so far that he will stand for the presidency is former FIFA deputy general secretary Jerome Champagne, but the Frenchman has admitted he would not be able to beat Blatter in an election and is likely to withdraw.
UEFA president Michel Platini is considering his options but is almost certain not to challenge Blatter.