It follows a six-year investigation in Switzerland into a payment of two million Swiss francs (£1.6m) going to Platini from FIFA.
85-year-old Blatter and former French footballer Platini, 65, could now face a trial withing months following a statement from Swiss federal prosecutors.
The investigation comes after Platini wrote to FIFA asking for backdated pay in January 2011 for working as a presidential advisor during Blatter’s first term as FIFA president between 1998 and 2002.
Blatter authorised the payment to be made by FIFA.
A statement from Swiss federal prosecutors said: “This payment damaged FIFA’s assets and unlawfully enriched Platini. From the point of view of the prosecution, the accused fulfilled the offenses listed at the beginning with their actions”.
Blatter has been charged with fraud, mismanagement, misappropriation of Fifa funds and forgery of a document.
Platini has been charged with fraud, misappropriation, forgery and as an accomplice to Blatter’s alleged mismanagement.
Prosecutors had opened criminal proceedings against Blatter in September 2015 while Platini was not under formal investigation until last year.
Months later, an allegation of fraud was concluded against both men.