Martin Lindsay will turn professional following his final upcoming outing for his club Immaculata in Toronto.
Lindsay's hopes of qualifying for Athens were ended last month
The Irish senior featherweight champion will hang up his amateur vest and a number of managers and promoters are believed to be chasing his signature.
"I waited to see if I could make the Olympics and it hurt a lot that I didn't," he told the Belfast Telegraph.
"There is nothing else to hang around for now. I have to weigh up all the options. It's a big decision."
Lindsay's Olympic dream was ended in Gothenburg last month when he lost 49-27 against Polish boxer Kryzysztov Szot in the opening round of the final Olympic qualifier.
It was a huge disappointment for Lindsay who had hoped to more than make up for his disappointing showing at the Commonwealth Games in Manchester.
Lindsay's chances of qualifying for Athens weren't helped by his exclusion from the opening qualifier, the European Championships, after he had missed a national squad get-together in Dublin over Christmas.