The 45-year-old singer has grown more open-minded as she has gotten older and wants to bare all for the adult publication before she dies.
She said: ''There's so much I wouldn't liked to do when I was younger and I was too miserable and Irish.
''A Playboy shoot is on my bucket list. And I like the idea of doing some interview in weird sex gear, talking about something really serious. The economy!
''You can talk about serious issues while you're b****ck naked. On all fours in your dog collar!''
Having previously advertised for a sexual partner on the internet, Sinead - who is now married to fourth husband Barry Herridge - admits she shields her 15-year-old daughter Roisine from what she says in public.
She told The Word magazine: ''I don't say it in front of her! She's worse than me anyway. She's determined to marry the singer from Muse, despite his being married to Kate Hudson. She has Muse carved into the side of her head. (sic)''
Muse frontman Matt Bellamy is engaged to actress Kate, the mother of his six-month-old son Bingham.