The Kremlin confirmed the meeting, but said it was a private matter and declined to provide details.
Blatter says he went to see Russia's president after watching Portugal's 1-0 win over Morocco in Moscow on Wednesday - wearing the laminate fan ID card required for all people attending World Cup games in Russian Federation. Blatter was FIFA president from 1998 until being suspended from office in October 2015 in the fallout from US and Swiss federal investigations of worldwide football officials.
His appearance at the World Cup in Russian Federation is potentially embarrassing for FIFA and its new head, Gianni Infantino, who has promised to draw a line under FIFA's corruption problems and clean up the organization.
However, FIFA have expressed they are "satisfied" with the refereeing standards and implementation of VAR at the 2018 World Cup in a statement released on Wednesday.
Blatter said it was "respectful" to be invited to the Kremlin despite being suspended from football.
"We had small talks", Blatter, who converses with Putin in German, told reporters Thursday.
The Kremlin said Tuesday there are no plans for a meeting between Trump and Putin before the North Atlantic Treaty Organisation summit, Interfax reported.
No charges have yet been brought and Blatter has repeatedly denied any wrongdoing. "It's not the first time I'm there", the 82-year-old said.
It was a chance to give his image a makeover, just like Blatter enabled Putin to do with Russian Federation by awarding him the World Cup. "It was not an easy time for me, it's still not the easiest time".
"It is good to be a fan", Blatter said before posing for photographs with the laminated Fan ID card.
Last week, former Scottish Football Association boss Stewart Regan said an English-led home nations bid is "definitely on the radar".
When asked how he had been occupying his time since the ban, Blatter said he was grappling with how to solve the problem of political intervention in world football.