The 20-time major victor said he was disappointed to skip the Rio Olympics because of a knee injury that sidelined him for the rest of the year at Wimbledon in 2016.
The Olympics also hold sentimental value for him - he met his future wife, Mirka Federer, in Sydney in his first Olympic appearance.
'I carried the flag twice for Switzerland in Athens and Beijing as well, I got a gold and a silver so I'd love to play again, I'm very excited'.
Federer finished with silver in the singles after losing to Andy Murray at Wimbledon in the final of the 2012 London Games, and he missed the 2016 Olympics in Rio de Janeiro because of injury.
Federer will turn 39 shortly after the Olympic tournament.
The Swiss great, 38, had been undecided on competing in a fifth Games, but after an exhibition match with John Isner in Tokyo he revealed he will have another shot at one of the very few titles to have eluded him - Olympic singles gold. I just figured it was an organic place to do that. "And that is why I really hope I will be and I can not wait". "I just felt like this, for me, is something I would like to do if I am healthy". I will try my very best.
The event at next year's Games falls between two Grand Slams, getting under way two weeks after the men's Wimbledon final.
Djokovic, a bronze medallist at Beijing 2008, won the Japan Open earlier this month without dropping a set at Ariake Colosseum - the venue for next year's Olympics. But I don't want to dream that far. Could you imagine if I won the gold?
Djokovic left Rio in tears after a first round defeat to Juan Martin del Potro three years ago but travelled to the Tokyo Open for the first time a matter of weeks ago in order to get used to the conditions for next summer.
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