"If given the opportunity, it's one that I'd like to take," the Arsenal midfielder told British media ahead of his country's Euro 2012 qualifier against England at Wembley on Tuesday.
"I've heard that [Tottenham Hotspur's Wales midfielder] Gareth [Bale] has the same feelings as well towards that. I'll just have to wait and see."
The British Olympic Association has said Britain would field a united team, to be selected and managed by the English FA, at next year's Games for the first time since 1960.
The Football Association of Wales, along with the Northern Irish and Scottish FAs, are opposed to their players joining any Team GB.
The three countries compete with their own teams at international level, but cannot do so at the Olympics where only Britain is represented.
They fear they will lose their independent status within football body FIFA if they were to allow their players to join a British team.
Wales have not qualified for a major tournament since the 1958 World Cup, where they reached the quarter-finals, and the Olympics could represent a career chance for Ramsey and Bale to win honours on the international stage.
"If there's a chance of playing in the Olympics and having the opportunity to win a medal, it would be a great one to achieve in your career," Ramsey said.
