The 56-year-old is understood to be planning on widening Europe's premier club competition to 64 teams, but at the cost of the secondary tournament, which could be defunct by 2016
In what would be the biggest shake-up in Europe's club competitions since the rebranding of the European Cup to its current form in 1992, the former France midfielder is reportedly planning on creating a single continental tournament.
Currently, the secondary competition generates far lower revenue for clubs than is produced by the Champions League, a problem Platini is increasingly concerned about, while it has been a target for much criticism since its evolution from the Uefa Cup in 2009.
To address this, Platini wants to increase the number of teams in the Champions League group stage to 64 teams in 2016, effectively absorbing most of the clubs from the Europa League.
Renowned European nations such as Spain, England and Germany would then be given six league berths each in their respective top-flight divisions.
In addition, the reform would ensure more scope would be given to lesser countries, including those from the likes of Latvia, Belarus and Slovakia.