The 'Climax' singer is keen to pick up an award for the role, despite having had no previous acting experience, reports Bang Showbiz.
''I've seen Oscar winners come out of left field. I'm just saying Jennifer Hudson..." said the 33-year-old.
"I'm going into it offering my interpretation and my hard work and my dedication to be the best Sugar Ray ever.
"I've spoken to him, and I don't know if I'll ever be able to live up to him but I'll try to be better than him.''
Hands of Stone will chart the life of Panamanian boxer Roberto Duran (played by Mexican actor Gael Garcia Bernal) and will also star Robert De Niro.
Usher insisted that he is unfazed by his co-stars, despite their experience in the industry.
"There's a respect for both parties," he said. "I'm not intimidated in any way.
"There's a shared passion and respect among all of us and it's the type of script that will allow all of us to shine.''
Usher is currently on tour promoting his new album Looking 4 Myself, which is out now.
Watch the video for his latest single 'Scream' below: