The Pretty Little Liars star admitted that she is a fan of the novel, which was penned by EL James.
"I just finished the first one," she told Celebuzz. "And I'm like... I'm, like, speechless!"
Hale, who revealed that she is "really curious" to find out how the book will be turned into a movie, said that "every girl on the carpet" wants to play the lead role of Anastasia Steele.
"I mean, that would be frigging awesome," she joked.
Hale also admitted that the male part of Christian is "tough", saying: "You have to be sexy, but still approachable. And, like, he's dark."
However, she suggested that The Vampire Diaries star Ian Somerhalder - who has said that he is open to taking on the role - would work well.
"I think he'd be a good one," she said. "Looks-wise, he's a good one."
Hale's Pretty Little Liars co-star Ashley Benson has also expressed an interest in Fifty Shades of Grey, while other stars linked to the movie include Chris Pine, Robert Pattinson, Kristen Stewart and Alexander Skarsgård.
Angelina Jolie was recently thought to be in the running to direct the movie, but later reports suggested she has not had any talks with the studio.
Watch Lucy Hale talking about Fifty Shades of Grey below: