After FIFA’s executive committee meeting on Monday, the board decided to hold a fresh presidential election on February 26 next year.
The move follows Sepp Blatter’s decision to resign four days after being re-elected in May this year.
Meaning the 79-year-old Swiss will still be in power for the next seven months.
Michel Platini has emerged as the favourite for the world football governing body top seat after the UEFA boss was urged to run by four of the six FIFA confederations.
Meanwhile, Brazil legend Zico and Liberia football federation president Musa Bility have said they will seek the five nominations required.
Candidates for the position will have to be nominated before October 26.