"I basically hang out with him all the time, we laugh, we sing karaoke, we do a lot of cool things together", Rodman said during an interview with ITV's Good Morning Britain. Rodman has spent time with Kim Jong Un, who he has called a "friend for life", and even held the young dictator's daughter.
Rodman said he was not trying to defend Kim and that he was just a "sports ambassador".
Rodman last visited North Korea in June and earlier trips stoked talk that he could facilitate a breakthrough between Pyongyang and Washington, although his comments on Kim have also drawn ridicule.
When Morgan brought up Kim's frequent threats of annihilating the USA with nuclear weapons and called him a repressive dictator, Rodman chuckled, which somewhat riled Morgan, who then questioned why Rodman may not see Kim as a threat.
He added, "I got a hope... that we can actually try to have some type of happy medium around the world, especially here in America".
The Trump administration has rejected that proposal, saying military exercises are essential in the face of escalating North Korean tests and threats to launch an intercontinental ballistic missile near the US territory of Guam.More news: Froome extends Vuelta lead, Lopez climbs to second win
Update 8.15pm: America is asking the United Nations to impose an oil embargo on North Korea following the secretive country's latest nuclear test. According to Rodman, those present stood for "15 minutes" clapping for them and chanting "USA, USA... in their language..."
Rodman feels he is uniquely suited to bringing peace to the peninsula, given that he also has met Trump, having appeared on his reality TV series, Celebrity Apprentice, in 2013.
Rodman said, "Piers, you know as well as I do, Donald can be a little insane sometimes..." President Donald Trump has said all options are on the table.
When asked Wednesday about military action, he said: "Certainly that´s not our first choice, but we will see what happens".
China owns the North Korea problem in ways that the worldwide community has thus far failed to exploit. "I just want to try to straighten things out for everyone to get along together".
The United States has warned of a "massive military response" in the wake of North Korea carrying out a test on a nuclear device over the weekend which caused a 6.3-magnitude quake.