The 77-year-old, who has held his position since 1998, had previously stated that his current term in office would be his last after being re-elected in 2011.
However, the Swiss has hinted that a change of heart could be in the offing after claiming he has a "mission" to complete before ending his 17-year stint.
"I'm now 38 years in Fifa and I have this mission and I want to fulfil my mission," he told BBC. "I feel young enough to be in this office and to make this office a success.
"It keeps you young also if you've got a mission - and I've got a mission."
Asked whether or not he could stand for another term, he said: "My intention is to finish this mandate. We are just starting the second half of the mandate. So ask me this question next year."
Blatter, who also earned re-election in 2002 and 2007 respectively, went on to champion the proposal of extending the terms to eight years, with a potential four-year extension.
He added: "This is a good approach and I would support it."
Blatter is the eighth president of Fifa, having succeeded Joao Havelange in 1998.