The panel of judges, known as the adjudicatory chamber, received the final report from the ethics committee’s investigative branch on Saturday, which called for sanctions to be levelled against both men.
A guilty verdict would almost certainly crush UEFA president Platini’s hopes of succeeding Blatter at the top of world football’s governing body.
The investigative branch did not disclose the severity of the recommended sanctions, or the evidence collected, but both Blatter and Platini have been implicated in possible criminal conduct in a separate case launched by Swiss prosecutors.
In a statement, the adjudicatory chamber said it had “opened formal adjudicatory proceedings against Joseph S. Blatter and Michel Platini based on the final reports submitted by the investigatory chamber.”
The chamber “intends to come to a decision in both cases during the month of December”, the statement further said.