Ukrainian President Volodymyr Zelensky said voting could take place during wartime if partners shared the cost, legislators approved, and everyone got to the polls.
It came in response to calls by a US senator this week to announce elections in 2024.
Elections cannot currently be held in Ukraine under martial law, which must be extended every 90 days.
The law is currently due to expire on 15 November - which is after the normal date for parliamentary polls in October but before presidential elections which are due to be held in March 2024.
Top American legislators visited Kyiv last Wednesday 23 August.
Among them was Senator Lindsey Graham, who heaped praise on Kyiv's fight against Russian President Vladimir Putin but said the country needed to show it was different by holding elections in wartime.
Mr Zelensky said he had discussed the issue with Mr Graham, including the question of funding and the need to change the law.
"I gave Lindsey a very simple answer very quickly," he told Ukraine's 1+1 Channel.
"He was very pleased with it. As long as our legislators are willing to do it."
Mr Zelensky said it normally costs 5 billion hryvnia (€125 million) to hold elections in peacetime.
"I don't know how much is needed in wartime. So I told him that if the US and Europe provide financial support ..."
He added, "I will not take money from weapons and give it to elections. And this is stipulated by the law."
Mr Zelensky said he told Mr Graham that election observers would have to go to the trenches.
"I told him: You and I should send observers to the frontlines so that we have legitimate elections for us and for the whole world."
Ukraine would also need help setting up additional voting access for millions of people overseas, especially from the European Union, he said.
"There is a way out," he said. "I am ready for it."
Mr Graham, a Republican, told reporters during a briefing in a bunker with fellow Senators Richard Blumenthal and Elizabeth Warren, both Democrats, that his message to Mr Zelensky would be they would fight to keep weapons flowing "so you can win a war that we can't afford to lose".
"But I am also going to tell him this: You've got to do two things at once. We need an election in Ukraine next year.
"I want to see this country have a free and fair election even while it is under assault," said Mr Graham.
Mr Zelensky said those fighting Russia's invasion would have to be included.
"They are defending this democracy today, and not to give them this opportunity because of war - that is unfair. I was against the elections only because of this," added Mr Zelensky.
