Cole, who is currently enjoying his loan spell at Ligue 1's defending champions Lille, is eager to don the colours of his country once more back in his hometown in London.
"The Olympic Games in London are very important to me as I am a pure Londoner. Whenever I go home[to London], I go past the Olympic village," Cole said.
"A lot of the competition will be in East London where I started my career."
Alongside his desire of featuring in the tournament, the former West Ham man has not ruled out a return to the full international side, with the European Championships looming this summer. His last appearance in the national side was as a substitute in the 2010 World Cup quarter-finals where England were eliminated by Germany.
"I have not heard anything about playing for England," he added. "I would like to play for my country again but going to the European Championship will depend on the name of the new coach.
"I would be delighted to play against France and be a spy to give some information to the English team."
Speaking about his fate at club level, Cole revealed that he is still uncertain where he will end up next season, although he is definitely keen on staying with Lille.
"I would like to stay but it's not in my hands," Cole said. "I haven't spoken to anyone at Liverpool. I'm waiting to hear from them. I've been very well received at Lille.
"I've discovered a football culture and a way of playing. The only thing that I miss is the atmosphere in the Premier League. The level in France is similar."