It's a possibility, Jackson said to "Access Hollywood's" Billy Bush in the second part of an exclusive interview that aired on the program Friday.
"I haven't really thought of it in that way, but I would give it more thought," he said.
Bush recently traveled to Ireland and the classic estate outside of Dublin that Jackson now calls home to talk with the King of Pop about his music and his new life.
Whatever shape his next album takes, collaborator Will.i.am, Black Eyed Pea's front man, said he's sure it will be a big hit.
"Something needs to put a jolt back in the music industry and the only thing that can do it is the jolt itself — the energy that sparked the imagination of the kids, me, the Justin Timberlakes, we're all products of this. So the only person that can put that jolt back in to that monstrosity of entertainment and music is the one who created it," he said.
As to what Jackson thinks of Timberlake, the King of Pop said "I think Justin is doing a wonderful job as well as Usher and it's great to see. I'm inspired by what they do and I'm sure I inspired him and it's very nice."
In the first part of the interview, which aired Thursday, the reclusive singer allowed "Access Hollywood" to turn on its cameras for what Bush described as an "exploratory mission.".
Shying away from a sit-down interview, Bush said Jackson allowed the show's cameras to follow him "like flies on a wall."
Those cameras went into Jackson's in-house, state-of-the-art recording studio, where
Jackson also enjoyed talking about working with will.i.am on some new tracks for the upcoming album.
"I like what he is doing and thought it would be interesting to collaborate or just see how the chemistry worked," Jackson told Bush. "I think he's doing wonderful, innovative, positive, great music."
Will.i.am, a rapper and producer, said he received the call while on his tour bus. "I thought they were joking," he said. "It's a dream come true for me."
Jackson hasn't released a new record since "Invinsible" in 2001. But he says he never stopped creating music.
"I am always writing a potpourri of music," he said. "I want to give the world escapism through the wonder of great music and to reach the masses."
On his blog, Bush described Jackson as nervous and antsy and called the visit a baby step.
"He was truly torn," Bush wrote. "He wanted to stay and keep jamming and have some fun, but he also wanted to leave before, from his perspective, he got crucified by another TV interview."
The King of Pop has made few appearances since being acquitted of child molestation charges in June 2005 and leaving the United States for Bahrain and Ireland. Bush's "interview" is Jackson's first.
Jackson made a rare public appearance on May 23 to receive the Legend Award at the MTV VMAs in Tokyo and is scheduled to attend the in London on Nov. 15. That's where he will receive the Chopard Diamond Award, given to artists who sell more than 100 million albums. The award also coincides with the 25th anniversary of the release of Jackson's "Thriller" — the best-selling album of all time.