Rory McIlroy told BBC NI on Monday that he will "monitor the situation" before deciding if he will travel to Rio.
Lowry says he will seek medical advice but is "not going to take any chances" over Zika, which is linked to brain deformities in newborn babies.
"I'm the one who has to make that call," he told the Irish Times.
Masters champion Danny Willett has also expressed concerns over participating in the Olympics because of the virus, while Australians Adam Scott and Marc Leishman have already pulled out.
"Obviously I really want to go but there is a decision to be made," Lowry said.
"I am recently a married man and I have to learn a lot more about the virus. I have to speak to the medical people from the European Tour and the doctors back home.
"How big a percentage is the risk? That's the really big one.
"I'm going to listen to the medical advice that comes my way and I'll be honest, I'm not going to take any chances."
Lowry, who is playing at the PGA Championship at Wentworth this week, admitted concerns over Zika were "not an ideal scenario to have on golf's return to the Olympics".
Shane Lowry has become the latest Irish golfer to raise doubts over whether he will play at the Olympics this summer due to the Zika virus in Brazil.