Makudi, who was on the committee in December 2010 when it voted to award the 2018 World Cup to Russia and the 2022 tournament to Qatar, will now face a formal investigation, the ethics committee said in a statement.
"The decision was taken... on the grounds that a breach of the Code of Ethics appears to have been committed and a decision on the main issue may not be taken early enough," said the statement, according to Reuters.
"The case is now the subject of formal investigation proceedings."
Switzerland's attorney-general has opened an investigation into the bidding process for the 2018 and 2022 tournaments, which was also the subject of a FIFA ethics probe conducted by former chief ethics investigator Michael Garcia.
Last week, South Korean Chung Mong-joon, who also sat on the executive committee in 2010, was banned for six years, while Jack Warner, another member of the committee at the time, was banned for life on September 29.