According to a report in UK broadsheet The Daily Telegraph, Hayatou, from Cameroon, is being urged by member association leaders from "all continents" to run for the presidency.
"I had not intended to run this time," Hayatou said, "but I am being pressed by friends all round. If we knew Sepp Blatter would retire following another four years, the situation might be simple, but he might attempt to stand repeatedly, as Joao Havelange did."
March 28 is the deadline for presidential candidates to nominate themselves.
Only Hayatou and the Asian Football Confederation's Chung Mong-Joon are realistic rivals to Blatter, who confirmed at Football Expo in Cannes, that he was ready to stand after being asked to do so by more than 100 of FIFA's 204 member associations.
Blatter added that he would continue in the job as long as the associations wanted him to do so.
Hayatou is known to be a close ally of Chung Mong-Joon and UEFA president Lennart Johansson.
African Football Confederation chief Issa Hayatou is likely to challenge FIFA president Sepp Blatter in this summer's election for the leadership of FIFA.
