A lengthening list of golfers have ruled themselves out of consideration for the Rio de Janeiro games in August, where golf is returning after a 112-year absence.
South Africans Louis Oosthuizen, Charl Schwartzel and Day's Australian compatriot Adam Scott are among players who have withdrawn in recent weeks.
But 28-year-old US PGA champion Day said he couldn't wait to head to Brazil to have a crack at Olympic glory.
"For me personally, I'm looking forward to the challenge of trying to win a medal," Day told reporters as he prepared for Thursday's opening round in the PGA Tour's Zurich Classic of New Orleans.
"It would be a really, really fantastic honour to be able to win a gold medal or any medal at the Olympics," he added.
"To be able to go down there and try and win a gold medal and represent your country is a unique and massive honour."
Day's compatriot Scott faced stinging criticism in Australia for ruling himself out of the Olympics, with swimming legend Dawn Fraser among those taking aim at the golfer.
Day however said he had sympathy for players who had elected to miss the Olympics, acknowledging that majors were viewed as more important than medals.
"Your career is pretty much based on how many majors you win and how many tournaments you win," Day said.
