Speaking to Ryan Seacrest on his KIIS-FM radio show, Gyllenhaal said that he had not realised his name had been linked to the lead role of Christian in the film.
"That's super flattering," he said. "I mean, I have not heard that, but if that's true then that's a nice thing. It's always nice to be considered."
Asked if he would think about taking on the role, Gyllenhaal laughed: "Yeah, of course! I always want to work, man, of course."
Fifty Shades of Grey author EL James has refused to reveal her dream casting for the movie adaptation, explaining that she does not want to name people in case other stars end up taking on the roles.
However, actors such as Ryan Gosling, Alexander Skarsgård, Channing Tatum and Ian Somerhalder have been linked to the part of Christian.
Photo gallery - Fifty Shades of Grey: The rumoured cast in pictures:
Copyright: PA Images Jonathan Short/AP