"I don't think the way things are at the moment are acceptable to the public," Ecclestone told www.Autosport.Com ahead of today's Bahrain Grand Prix.
"People buying tickets to come here expect to see what Formula 1 used to be," he said.
The engineering marvels that are propelling F1 cars faster than before, but at a fraction of the noise and with less fuel, have not been widely welcomed in a world that revels in the roar of machinery.
When asked if things needed to change Ecclestone replied: "I think we have to, for sure."
Ecclestone is in Bahrain to discuss the current F1 landscape with the sports chiefs and Ferrari president Luca di Montezemolo.
While a big fan of the new engines he felt that they were out of place in F1.
"What is wrong is these fantastic engines," he said.
"The engines are without a doubt incredible, the amount of power they produce for the small amount of fuel.
He believes tweaking the engines to create more ear-splitting noise and revising the fuel limitations is required.
"I think they can do something about the noise. If they need another 10kg of fuel or something like that then I thin k everyone will agree."
He believes changes will not count against Mercedes, who have coped best of all their pitlane rivals in adapting to the new rules, with the team's Nico Rosberg and Lewis Hamilton on the front row in Bahrain.
"I think everybody is complaining really - even Mercedes. They don't like people not being happy.