Speaking to Heat, 18-year-old Daley said that if he had the chance, he would take Cole out in his hometown of Plymouth and show her the sights.
"She is just so sexy and my type... I would take her for a hot air balloon ride that ended with a BBQ on the beach in the sunset," he added. "It's not very glamorous, but I think she might like a change."
The champion diver admitted that he gets a lot of female attention, but still hasn't got used to it.
"It's funny because girls react in different ways," he explained.
"Some girls are too cool to come and say hello... other girls will just scream in your face. And then some girls will just chat to you as if they know you. But it's cool, because there's always something to talk about."
The London 2012 hopeful went on to say that he still gets starstruck, and felt particularly nervous when he met Olympic ambassador David Beckham.
"When I came on to the stage for Sports Personality Of The Year, he threw me a cheeky wink and gave me a thumbs-up," said Daley.
"I didn't know what to do. I can't wink, so [I] just went, 'Alright?' I'm like, 'What do you do?'"
Despite his on-stage embarrassment, Daley added that he wouldn't mind following in Beckham's modelling footsteps.
"Yeah, I'd love to do it. Why not? It's more clothing than usual!" he joked.
"I could give him a run for his money."
Watch Cheryl Cole's video for 'Call My Name' below: