But the Bolton-born fighter also admitted he would not be willing to face an accompanying two-year ban from the World Boxing Council that would jeopardise his professional career, making an Olympic appearance unlikely.
Speaking to AFP in an exclusive interview in Islamabad, where he launched his first boxing academy on Saturday, Khan said he was a "proud British fighter" who had represented his country at the Athens Games and would therefore not want to deprive fellow Brits of a ticket to Rio De Janeiro.
"But, you know, at the moment we are just waiting and seeing. I don't think I'll be allowed to do that anyway because obviously, the WBC, they won't allow it."
World Boxing Council president Mauricio Sulaiman denounced a rule change by the International Boxing Association (AIBA) to allow professionals to compete against top amateurs in the Olympics, calling the move dangerous.
The 29-year-old stands at a critical juncture in his career following a stinging loss to Saul "Canelo" Alvarez last month, that took his career record to 31 wins and four losses.
Khan, a two-time former welterweight world champion, stepped up two divisions to fight his brawny middleweight opponent after he was denied a coveted matchup with Floyd Mayweather, who retired last year.
bout, Khan was sanguine about his loss and insisted he was looking forward to his next world title shot against WBC welterweight champion Danny Garcia.
"I feel great. I feel young, fresh. I mean, the Alvarez fight, everything was going fine until I got caught with the big shot and that's boxing for you sometimes. One punch can change the fight. You can be winning the fight quite comfortably and I've seen it happen to the best of us.
"So, I'm gonna go back to the drawing board and not make those mistakes. I know that my offense was amazing in that fight. But maybe tighten up a few little areas."
Last year, he travelled to the Greek island of Lesbos to lead a charitable drive for Syrian refugees, while his current trip to Pakistan has seen him raise money and pledge wells for the residents of Thar, a drought-ridden southern district home to some of the country's most destitute people.
His academy in Islamabad -- modelled after the one he founded in Bolton, northwest England, will aim to seek out talent in a country which only boasts sporadic success in cricket.
He said: "I really believe in the country, I really believe in the talent we have here, just like I did in the UK. I believed in talent in the UK and I produced amateur world champions and European champions and gold medallists and national champions. I want do the same for Pakistan.
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