The ex-Welsh Lib-Dem said he has considered contesting the post when it next comes up for election.
The former I'm A Celebrity - Get Me Out Of Here TV contestant was speaking after visiting the Estonia capital Tallinn.
Estonia was home to his grandfather, the astronomer Ernst Julius Opik.
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Mr Opik said he had been asked to consider being either a member of the Estonian parliament, or to consider running as president.
"One position is just to be a member of parliament, which I would not mind doing," the 53-year-old said.
"There are 101 MPs and they do work in coalition, so it is not very partisan.
"The other position is president of Estonia. It is more than just a non-executive role - I could make quite a big splash.
"I have not got a campaign plan but I have said I would be interested. It's not an appointed job, I would have to stand for it."
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