The earmarked sites include St Gemma's in Belfast, St Peter's in Londonderry, St Mary's in Belleek and Drumcree College in Portadown and St Eugene's in Castlederg.
Gerry Lundy, director of the Commission on Catholic Education review, explained the reasons at the launch in west Belfast on Monday.
He said: "The rationale is that the schools have had a significant decline in pupil numbers and are facing a significant challenge in delivering the curriculum.
"What we are saying is, going forward, they will not be able to do that.
"We believe it is in the best interests of the young pupils to manage closures and regrettably in some areas the option we have recommended is the schools should cease to provide education on that site."
The NICEE report also recommends that other schools, both grammar and secondary, should be amalgamated.
No deadline has been given for getting rid of academic selection.
Education Minister John O'Dowd said the needs of the pupils, rather than the institution, must be at the forefront of any new arrangements.
"We need to establish a sustainable schools' estate for the benefit of our young people," the Sinn Féin minister said.
"We have currently 85,000 empty school desks, and this cannot be allowed to continue as it presents a major drain on resources to all schools.
"There are recommendations for immediate action and sensibly, there are other recommendations that will be brought forward on a longer timeframe because they require other changes to facilitate them.
"All institutional interests need to be set aside at all times in deference to the needs of pupils and the educational outcomes delivered for them. Changes need to be made in a planned and managed way and I will continue to work with the Catholic sector to ensure that this happens."
While the Church is against academic selection, Catholic grammar schools in NI have fought a long battle in favour of the use of 11-plus style tests.
However the Catholic Primate, Sean Brady, told UTV that change cannot be avoided.
Dr Brady said: "We know that schools are very treasured possessions in any community and to close one is a hard decision.
"But it is something that has to be faced at this time and the changes have to be planned. It is not just for the sake of change, it is to ensure the future for all in the sector."
The Catholic Principals Association said it is "disappointed" that the report does not specify its intentions for ending academic selection.
A statement said: "The CPA is disappointed that there is no time scale to end academic selection.
"We regard this omission as the major fault in the proposals, and a reversal of all previous commitments by NICCE. NICCE have always pledged to end selection in a specific time period.
"Regrettably, they have now abandoned that commitment."
Meanwhile the Fermanagh Trust, where a number of schools could be amalgamated as part of the shake-up, said cross-community options should be explored.
Director Lauri McCusker said: "Cross-community, shared education options across Northern Ireland, which would include children from all backgrounds, should be explored as a response to the Catholic post primary review.
"We urge all sectors and people of influence to put children first and see shared education as part of the solution to the pressing needs of the education estate and system in this part of Fermanagh."