The Scottish actor is adamant the sci-fi programme would easily translate to the stage, but would prefer to keep a musical version on TV screens as it would be difficult to find the time for a long-running live production.
He says, "Doctor Who: The Musical has been mentioned. I would be up for it. I love a song and a dance. The thing about a musical is you have to commit for a year and a half and it's eight times a week."
Tennant was recently forced to pull out of his run in a London production of Shakespeare's Hamlet due to a back injury..
The star - more famous for his roles onstage - has completed negotiations with Marvel bosses to helm the film, due for release in 2010.
And he can't wait to take the challenge of directing a Hollywood blockbuster.
He says, "We're getting the story and visual effects together and all of that is very exciting."
Thor follows the tale of a disabled medical student whose alter ego is the Norse god.