The punishments were handed out by the ethics committee of football's world governing body, which is investigating the three over corruption allegations.
It also banned ex-Fifa vice-president Chung Mong-joon for six years.
Issa Hayatou, who heads Africa's football confederation (Caf), will act as Fifa president during Blatter's ban.
Spain's Angel Maria Villar is expected to perform the same role at Uefa - European football's governing body - while Platini is suspended.
Both Chung and Platini are hoping to replace Blatter when he steps down as president in February.
"The grounds for these decisions are the investigations that are being carried out by the investigatory chamber of the ethics committee," the body said in a statement.
The three are banned from any football activity in the interim. They deny any wrongdoing.
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