Chilean football federation president Harold Mayne-Nicholls has until late January to submit his candidacy for the FIFA election in May.
He tells The Associated Press by email that he is "studying the situation. It is a possibility at the moment."
Mayne-Nicholls has to show he has played an "active role" in football for two of the past five years and has the support of at least five FIFA members.
Blatter is seeking a fifth four-year term as president, with former FIFA official Jerome Champagne the only other declared candidate.