The Azzurri lifted the trophy back in 2006 and also reached the final of Euro 2012, with the Juventus goalkeeper hungry for a second taste of World Cup glory.
"It would be nice to win another World Cup," he told Sky Sport Italia. "We do have the potential to do it, although clearly other nations have an even better chance.
"I would never give up on the Nazionale. I don't see why I should, unless it is a decision by the coach that I would accept without problems. I haven't the courage to give up and it'd be a shame to do so if I was still competitive."
The Juventus man is just one cap behind current record holder Fabio Cannavaro and will go level with him when Italy meet Czech Republic in Turin on Tuesday.
And Buffon, 35, admitted that emulating the achievement of his former team-mate would be a high point in his career.
He added: "Catching Cannavaro’s record means a lot of time has passed, as I've been in the national team for 16 years, or 20 if you count the youth levels.
"I always tried to raise our tricolore flag as high as possible and I still want to win something."
Victory on Tuesday would secure Italy's place in Brazil next year.