Fifa says a presidential election will be held on 26 February 2016 to elect a successor to Sepp Blatter.
The announcement came as the executive committee of world football's governing body met in Zurich. It is the first time it has met since seven officials were arrested in May as part of an American investigation into alleged corruption and bribery.
Sepp Blatter's attempt to outline his plans for an anti-corruption taskforce was interrupted by comedian Simon Brodkin today.
The prankster, whose stage name is Lee Nelson, threw bank notes at the 79-year-old, saying: "Here you go Sepp."
Blatter - who resigned in June following the arrest of several Fifa officials on suspicion of corruption and bribery - said the reforms would include enhance centralised integrity checks for Fifa members and presidential term-limits.
ITV News Correspondent Dan Rivers reports:
Michel Platini has formally announced that he intends to stand for the Fifa presidency when Sepp Blatter vacates the position
The comedian best known as Lee Nelson is to be charged with trespass by Swiss police.
FIFA says a presidential election will be held in February 2016 to elect a successor to Sepp Blatter - here's the men in line to replace him