The actor told a Boston radio station that he is considering taking up Bulger's invitation to meet him in prison.
He said Bulger may be interested in giving him the rights to his life story.
"He wants me to come down and visit him. Maybe he'll give me the exclusive rights to tell his story, 'cause he knows, you know, we can do it better than anybody else," Wahlberg said on WAAF-FM radio on Friday.
Bulger was captured in Santa Monica last year after 16 years on the run. The 82-year-old is accused of taking part in 19 murders.
Wahlberg grew up in South Boston, also Bulger's home when he ran a local gang in the '70s, '80s and '90s while working as an FBI informant.
Bulger has pleaded not guilty.
Wahlberg said his "heart goes out" to loved ones of Bulger's victims, but the story has tremendous potential.
The Associated Press contributed to this report.