The film, provisionally titled F2014, will see the Pulp Fiction star as controversial Swiss Blatter and French actor Gerard Depardieu as FIFA's longest-serving president Jules Rimet.
Blatter said of meeting Roth: "It was a very interesting get-together. I had read a lot of the CV and all the realisations [films] that this Tim Roth has made.
"I was very eager to meet him, and I have just realised that really we have something in common. We have some common, let's say, qualities."
The 77-year-old also praised the casting as "well done".
F2014 is expected to shoot in Azerbaijan, France and Brazil, for a release next year to mark FIFA's 110th anniversary and the 2014 World Cup in Brazil.
Blatter, who has been in office since 1998, was the victim of a Twitter hacking earlier this year, with tweets from his account claiming that he had resigned from his position.