The singer, 25, is the UK's entry for the event, which will be held in Liverpool in May.
But she said although she was keen to do well she wouldn't mind being beaten by the act from Ukraine, particularly as the country had been due to host this year but had to hand it over to the UK amid the conflict with Russia.
Read more: Who is Mae Muller?
"It is their year, we are just hosting on behalf," she said on ITV's Lorraine.
Asked if she'd mind them winning, Muller went on: "Absolutely not. I will be happy."
She told host Lorraine Kelly: "I'd love to do well, I am going to try my best. But I think, for me, if I go out there and I just feel like I have smashed it and I have enjoyed it, I'll be happy."
The singer – who will be performing her track I Wrote A Song – also shared that she would be closing the show.
She admitted when she heard that she thought it was fake.
"And then I saw Eurovision's verified account and I was like, wow!" said the star. "I am very excited!"
Last year's contest was won by Ukraine's Kalush Orchestra, so the 2023 event was due to be held there in keeping with the tradition that sees the event staged in the country of the previous year’s winner.
However, last summer it was confirmed that the UK would host.
Semi finals will be broadcast on BBC One and BBC iPlayer on Tuesday 9 May and Thursday 11 May at 8pm.
The Grand Final will be broadcast on BBC One and BBC iPlayer and via BBC Radio 2 and BBC Sounds on Saturday 13 May from 8pm.
Watch: Mae Muller: 'I don't think it gets much bigger than Eurovision'