Plans for a 'world engine' were scrapped when the current F1 rules were introduced in 2014.
But FIA president Todt says the 2021 rules are now an opportunity to try again.
"At the moment we have separate engine regulations for every series," he told Auto Motor und Sport. "It doesn't have to be like that.
"The requirements for formula one and the world endurance championship are similar," Todt added. "A formula one engine has to do about 5,000 kilometres, which is about the Le Mans distance.
"Having one engine concept would be attractive to new manufacturers, and it could mean F1 teams can go to Le Mans with their own team, or vice versa," he said.
Book discounted tickets and reservate your hotel room in our F1 Tickets Shop.