Dutch FA president Michael van Praag has announced he will stand as a candidate for the FIFA presidency.
According to BTSPORT, Van Praag revealed the news to UEFA's executive committee on Monday and announced his candidature on the Dutch FA's website.
His move will see Blatter, Van Praag, Prince Ali Bin Al Hussein from Jordan and also possibly Frenchman Jerome Champagne confirmed as candidates after Thursday's deadline.
However, UEFA president Michel Platini is also keen to give support to Prince Ali and ensure that there is no split vote among those associations keen on reform of FIFA.
Van Praag said in a statement: "It is well known that I am very worried about FIFA. It is high time that the organisation comes back into the real world.
"I had hoped that a credible opponent [to Blatter] would emerge, but that's simply not happened. In that case you cannot just talk but you must also act decisively and take responsibility so therefore I am announcing my candidacy."
Dutch FA (KNVB) secretary general Bert van Oostveen added: "It is clear that something has to change in FIFA to restore credibility. Michael is the right man for this. The KNVB will fully support him in his campaign."
Van Praag will formally announce his candidacy at a news conference in Amsterdam on Wednesday.
UEFA general secretary Gianni Infantino said the European governing body would not be formally backing either Van Praag or Prince Ali.
He told a news conference: "We have heard about Prince Ali and we have heard about Michael van Praag and it is good there is a proper discussion.
"We are an open democracy, we have different views and the important thing is everyone can express his views."
Van Praag said he had obtained the minimum five nominations from national associations but the Football Association has yet to decide who it will support - that is likely to take place at a board meeting on Thursday.
David Ginola is expected to be forced to withdraw as a FIFA candidate on Thursday after failing to gain the required nominations. The former Tottenham and France winger is being backed by a bookmaker but his campaign to raise £100,000 in public money has so far raised only £5,900.
Meanwhile, UEFA confirmed England's David Gill and Welsh FA president Trefor Lloyd Hughes will contest an election voted for by European nations to be named Britain's next FIFA vice-president to succeed Northern Ireland's Jim Boyce.
UEFA has also announced that England will host the European under-17 championships in 2017.
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