In a newspaper interview, Platini -- a member of the executive committee of world football governing body FIFA that selects the World Cup hosts -- acknowledged the growing economic stakes in sport's most popular event.
"Maybe we can talk about that, what we can change in the way it is awarded," UEFA's president told the Swiss newspaper Tages-Anzeiger, suggesting that such reforms could be considered after the current "bad period".
"You can imagine what kind of pressure a candidate could exert on a person who has a vote," Platini said.
"With a World Cup there's about 10 billion to 20 billion Swiss francs (10-20 billion dollars, 7.4-15 billion euros) in it for each country."
Platini suggested that the choice should be expanded beyond the current 24-strong FIFA executive committee to a vote of the 208 member associations or nations in world football's governing body.
"Maybe one possibility is that the whole Congress decides, that way the weight of an individual would not be same as it is today," he explained.
"But it's very complicated. FIFA has 208 associations. Europe has 53 votes, Africa has 53; South America, however, just 10 -- they would never get a World Cup."
FIFA suspended two other executive committee members on Thursday after a probe into newspaper reports of corruption or ethical misconduct in the race to host football's 2018 and 2022 World Cups, just two weeks before the hosts are chosen. Both officials said they would appeal.
The affair has revived uncomfortable memories of old influence-peddling scandals over the past decade and late 1990s that shook world football's decision makers