The Northern Irishman fell agonisingly short of winning his first major title since 2014 at this year's US Open when he missed two short putts in the final three holes, losing by one shot to Bryson DeChambeau.
The world number three then missed the British Open cut at Troon.
McIlroy opted not to play when golf made its return to the Olympics after a 112-year absence at the 2016 Rio Games, saying he would not even watch the competition.
But he has changed his tune since and narrowly missed out on a medal three years ago in Tokyo when he was part of a seven-man play-off for bronze which was won by Chinese Taipei's Pan Cheng-tsung.
McIlroy has won 17 PGA Tour titles since the last of his four major triumphs, including three Tour Championships and the Players Championship, but says Olympic gold would rank at least alongside those successes.
"It would be the achievement, certainly of the year, if not -- I think for me, it's well documented that I haven't won one of the big four in 10 years," he told reporters on Tuesday.
"It would probably be one of, if not the biggest in my career for the last 10 years...
"I'd say my focus is pretty high. The last time you guys saw me, I didn't give a very good account of myself at Troon. I want to make sure I'm right where I need to be teeing off on Thursday."
McIlroy will have plenty of competition when the first round gets under way on Thursday at Le Golf National, the venue for the 2018 Ryder Cup won comprehensively by Europe.
World number one Scottie Scheffler will make his Olympic debut, while reigning champion Xander Schauffele will also be among the favourites after his 2024 PGA Championship and British Open titles.
Paris will see comfortably the strongest field for a men's Olympic golf event, with eight of the world's top 10 competing.
"(In) the Olympics, you want the best players to be able to participate," said Spain's two-time major champion Jon Rahm. "Any tournament, you want the best players possible to be representing their country."
Team events 'would be great'
Organisers are reportedly considering adding a mixed team event to the golf schedule for the 2028 Olympics in Los Angeles.
The decision to only include 72-hole individual tournaments -- the same format used by the majority of major tours week in, week out -- was a controversial one when golf was first reintroduced to the programme.
"I think some people were surprised that it was only individual stroke play, and they didn't try to mix it up with some different formats," said McIlroy.
"If that came to fruition in L.A. where there was a mixed team event, or even another team event that was not mixed and Shane (Lowry) and I could play in it if we qualify, yeah, I'd love that.
"I think that would be a great format to bring to this competition."
McIlroy will start his bid for gold alongside Scheffler and Swedish sensation Ludvig Aberg on Thursday, while Schauffele partners Rahm and Norway's Viktor Hovland in another marquee group.
