Gere, 63, has earned critical praise for his portrayal of a hedge fund manager whose life is thrown into chaos due to his financial impropriety.
The actor has already been nominated for a Golden Globe for "Arbitrage", but said that he is hoping for an Oscar nod, reported CNN online.
"It would feel great, of course. Everyone wants to feel appreciated. I like the movie, and I think Nick Jarecki, who wrote and directed it, did a really great job. I'm happy with my performance in it," Gere said.
"I don't think any actor is ever totally delighted with what they do, but you get easier on it later," he added.
Gere also said that he tries to set very few goals for himself at this point in his career.
"I've never wanted for something and then was able to make it happen. Life doesn't really work like that. I think the process of getting older is just to let it happen.
"While you're focused on trying to make something happen, you're missing out on so many other things around you. So I think in my own case the process of maturing is to just be more open - to feel the whole thing," he added.
Gere previously won a Golden Globe for his portrayal of Billy Flynn in the 2002 film "Chicago".
