Mr Zuckerberg was speaking after his company lost $37bn (£26bn) of its value amid concerns over the alleged harvesting of user data by the UK political consultancy firm.
Cambridge Analytica, which was hired by Donald Trump’s campaign team, has been accused of illegally harvesting the personal data of 50 million Facebook users.
Mr Zuckerberg told CNN: “The short answer is I’m happy to (testify) if it’s the right thing to do.”
Facebook is currently facing investigations by authorities in the UK, EU and the US and Mr Zuckerberg has been sent a formal request to appear before MPs and answer questions on the matter.
He said that it was “clearly a mistake” to trust Cambridge Analytica in 2015 when it said it would delete the data it gained from Facebook.
Apologising for the “breach of trust”, Mr Zuckerberg said: “I’m really sorry this happened.
“We have a basic responsibility to protect people’s data.”
The scandal has strengthened calls for Facebook and other social media to be subject to regulation but Mr Zuckerberg said he was not against this.
“I’m not sure that we shouldn’t be regulated.
“I think technology is an increasingly important trend in the world.
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“I think the question is: what’s the right regulation, rather than yes or no, should it be regulated.”