The 100m, 200m and 4x100m Olympic champion said he told his coach the wants to run at the event, which is to take place in July.
The fastest man in the world also revealed that he is reconsidering plans to retire after the Olympic Games in 2016.
Earlier this year, Bolt said he would call time on his career that year, but he admits it is now likely that he will compete until 2017.
The Jamaican said: "I have said to my coach that I would love to go to the Common-wealths. It's something that I haven't done before.
"I want to be a part of it."
Leader of Glasgow City Council, Councillor Gordon Matheson, said: "For the greatest sprinter of all time, the chance to make history in front of the best crowd in the world must be a huge draw.
"Glasgow would go absolutely crazy for Usain Bolt."
Six-time Olympic champion Bolt was speaking at a book signing of his autobiography Faster Than Lightning, in London yesterday.
Hundreds of fans queued up at the Selfridges department store in Oxford Street to see him.
Bolt added: "I think that my fans especially have really voiced their concern about me retiring.
"They think I should carry on and so do my sponsors.
"I have discussed it with my coach and he says it is possible."
Bolt would become the oldest 100m champion of all-time if he won gold at Japan in 2020, when he will be on the verge of turning 34.
However, the athlete insists he has no desire to extend his career that far.
He said: "I have not thought about Japan.
"It's a long way away, but if I win the next Olympics I will have done everything that I wanted to do in my career so there would be no reason to continue."
Bolt maintained his status as the top sprinter in the world when he claimed three golds at the World Championships in Moscow last month.