The British Olympic Association announced an 'historic agreement' earlier this week that will allow players from all the home nations to be eligible for selection.
While the wrangling continues over the participation of Scottish and Welsh players, Rodwell has no doubts about what he wants to do.
"I would definitely like to be involved," the 20-year-old Everton midfielder told his club's official website.
"You always want to test yourself at a high level and I would be proud to represent Great Britain.
"It is effectively a once-in-a-lifetime opportunity to be involved in something like that and the chance to win an Olympic medal would be amazing."
However, former Toffees goalkeeper and proud Welshman Neville Southall is against the idea of a GB team.
"I don't see the point," said Southall, who won a record 92 caps for his country.
"You will just lose the identity of all the teams. The whole point of going to the Olympics is that special moment when your flag goes up.
"What flag are they going to put up if they win it? The Union Jack? It's not my flag. My flag's a dragon.
"As a Welshman I'd rather play for Wales if I was in the Olympics. I would want to go and represent my country."
Southall also believes club managers will be against the idea.
"If I've got a player who is worth ?10million, why would I want somebody kicking lumps out of him at the Olympics?" he added.
Wales youngster Adam Matthews admits he would also jump at the chance to be involved in a Team GB at the Olympics.
Celtic right-back Matthews, who made his senior debut against Scotland in the Carling Nations Cup last month, said: "I think every player would be interested in being in the Olympics.
"If the chance comes up I would take it, but I'm just concentrating on Celtic at the minute."
Asked if his views were likely to be shared by other players, he added: "I think so. The main priority will be performing for their clubs and, if the chance comes up, I'm sure they'll take it."
Source: Team Talk
Source: Team Talk