"Who could have sex the longest," the New York Daily News quoted him as having told New York magazine.
"I think that's an event I can do well in. And probably who could stay up the longest.
"Just so you know, that's supposed to be funny. Even though I am serious," he added.
When questioned who his Olympian rival would be, P. Diddy did not have any specific competitor in mind.
"Whoever's up for the challenge," the 38-year-old said.