"I am happy to confirm that my six backing letters have been sent to FIFA this week ahead of the deadline," the 42-year-old former Real Madrid and Barcelona star said on his Twitter account.
FIFA's electoral commission must now validate or refuse, within approximately ten days, the candidates eligible to challenge the long-serving Blatter at the May 29 elections.
Figo, is now in the running along with Asian Football Confederation vice-president Prince Ali bin Al Hussein, Dutch football chief Michael van Praag, ex-FIFA executive Jerome Champagne and former French winger David Ginola.
Van Praag and Jordanian Prince Ali appear to have the strongest cases to overthrow Blatter, who is bidding for a fifth term, but has come in for a barrage of criticism over the voting process that led to Russia being given the rights to host the 2018 World Cup and Qatar the 2022 tournament.
Figo found support in the form of compatriot and Chelsea manager Jose Mourinho on announcing his decision.
"Luis Figo's candidacy is a great step forward for football. His career over many years guarantees a better future for FIFA," said Mourinho.
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