"I'm throwing myself in the mix," the SNL alum told Matt Lauer during a Thursday appearance on Today about filling the shoes for the longest running late night talk-show host, who announced he is retiring in 2015.
As for what would make the comedian stand out among the competitors he admits that he would bring a "different perspective."
"We'll shake the game up. I think Jimmy Fallon needs some competition out there," the Rio 2 star revealed.
The 30 Rock actor has already given his dream show some thought. For example, the band or should we say, bands.
"It would be different every night," he explained. "It might be Drake one night; it might be Sly & the Family Stone one night; it might be War one night; it might be the Doobie Brothers one night. I'm going to shake it up, be creative."
Who is No.1 on Morgan's celebrity guest list?
"Bruce Vilanch!" he exclaimed. And if he can't book the comedy writer? "The black dude from Magnum PI—if he doesn't want too much. Who knows?"
Watch the clip above to find out what his sign off line would be and hear about his latest projects!
(E! Online and Today are both part of the NBCUniversal family.)