The cosmologist and physicist, 75, told Good Morning Britain he did not expect to ever have the opportunity to experience space.
In a wide-ranging interview, he told the programme: "My three children have brought me great joy - and I can tell you what will make me happy, to travel in space.
"I thought no one would take me but Richard Branson has offered me a seat on Virgin Galactic, and I said yes immediately."
Talking to host Piers Morgan, Mr Hawking also discussed President Trump, Brexit and Labour leader Jeremy Corbyn.
Hawking on President Trump
The scientist had previously called the US president a "demagogue", but said although he still admires America, he fears "that I may not be welcome".
He told the programme: "Trump was elected by people who felt disenfranchised by the governing elite in a revolt against globalisation.
"His priority will be to satisfy his electorate who are neither liberal, nor that well-informed.
"I have many friends and colleagues there [in America], and it is still a place I like and admire in many ways. I would like to visit again, and to talk to other scientists. But I fear that I may not be welcome."
Hawking on Labour leader Jeremy Corbyn
Stephen Hawking said there was not "much chance" of Labour winning an election under current leader Jeremy Corbyn, but added he will continue to support the party.
He said: "I don't believe there will be much chance of Labour winning an election under him.
"He doesn't come across as a strong leader, and he allowed the media to portray him as a left-wing extremist, which he's not.
"It's no good having the right principles if you never get in power. But I will continue to vote Labour - it's the party that matters."
Hawking on Brexit
The scientist was opposed to leaving the European Union, but said if the referendum must be implemented "it shouldn't be a hard Brexit as the right wing of the Conservative Party want" as it would leave Britain "isolated and inward-looking".
"We should retain as many links as possible with Europe and the rest of the world, particularly China.
"By remaining in the EU, we would have given ourselves more influence in the world. And we would provide future opportunities for young people.
"Leaving Europe threatens Britain's status as a world-leader in science and innovation."
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