The proposal was put forward at a two-day meeting of the ICC's cricket committee as part of a package of ideas aimed at increasing the attraction of the limited overs game.
"The biggest change that we are recommending is the 12-man team," Sunil Gavaskar, chairman of the committee, told reporters.
"Though the on-field strength of players must not exceed 11, a captain can substitute a player who he feels is not performing well."
"It could be anybody - a wicketkeeper, batsman, fielder or a bowler. The substitution in line with soccer or rugby, will add more thrill to the game and, at the same time, will give a captain more tactics to play with.”
The committee, whose recommendations will be considered by the ICC's chief executive's committee meeting in London at the end of June, also proposed a change to field restrictions.
"The idea is to try and get away from the predictability of the game, have more excitement and give more tactical advantage to the fielding captain," Gavaskar said.
The committee also recommended that on-field umpires could consult the TV umpire whenever there was doubt - be it over lbw or bat-pad catches - rather than just for line decisions.
