The music mogul's Syco production company has teamed up with Will and Jada Pinkett Smith's Overbrook Entertainment to search for the "world's greatest DJs".
Asked if he would be a judge on the show if approached, DJ Fresh told Digital Spy: "Yeah, if it meant I could carry across the scepticism of where I'm from - which is something they probably need.
"If I didn't really think about it my answer would probably be no, but the more I've thought about it I think I would have a different perspective than the other people on the panel."
Speaking about whether a respected DJ could come out of a talent show, the star added: "I think everybody assumes the answer to that is no, but I think the one thing X Factor has really highlighted is the way music promotion is changing.
"It's becoming more about people interacting with something they think they should want. Although you can be sceptical about The X Factor and the people that come out of it, ultimately it's the public who determines who's popular and who wins."
He added: "I think it will be interesting and I'm sure there will be plenty of talented people who come through it. Because dance music is an important part of British culture, it's great that it's getting that kind of spotlight."
DJ Fresh has teamed up with Dizzee Rascal for his new single 'The Power', which is available to download from June 3.
Watch the music video for 'The Power' below: