A FIFA committee has rejected Sepp Blatter and Michel Platini's appeals against their 90-day provisional bans.
The FIFA president and UEFA chief were suspended in October by FIFA's ethics committee while world football's governing body investigates claims of corruption.
In September, Swiss prosecutors opened criminal proceedings against Blatter, who is suspected of criminal mismanagement or misappropriation.
Blatter, 79, is accused of making a "disloyal payment" of £1.3million to Platini in 2011 for work allegedly carried out more than nine years earlier.
Both Blatter and Platini deny any wrongdoing, and are expected to take their cases to the Court of Arbitration for Sport following the rejection of their appeals.
Blatter, who was discharged from hospital last week after what was described as a "small emotional breakdown", is committed to clearing his name, according to his lawyer Richard Cullen.
"President Blatter is committed to clearing his name and hopes this inexplicable delay is not an effort to deny him, during his elected term, a fair hearing before a neutral body," said Mr Cullen in a statement.
UEFA chief Platini is one of seven candidates hoping to succeed Blatter as FIFA president, but the ban means his bid for the position will have to be put on hold until his case is resolved.