Check this site http://linux.oreillynet.com/pub/a/linux/2002/03/21/linuxps2.html and read the whole thing. The article talks about most of linux source code should compile fine with some minor changes. And graphic libraries are also supported, Mesa, and others. Also languages like Python, Perl, and c/c++ are possible.
Go check the article!
Python was originally ported to PS2 (not PS/2 that’s an old IBM) by NaNs Python man for the purpose of Blender player native on PS2 (look at Sonys middleware developer list, they’re on it). PS2 Linux is an interesting one, but just how many people will get it is curious (I’m one of the people that signed a petition for a US/European version after those lucky Japanese scamps . . .). What would be incredibly cool is a setup where you could make you game in Blender on PS2 Linux upload it to a website and then download it into a native player (so you don’t need the Linux kit) over the Internet and for others to play it too.
Has potential for a bigger community than we can currently imagine, especially if the PC market vaporises in a couple of years (my personal opinion), with consoles, 3G and iDTV. Just look at what Microsoft are doing and they seem to agree with me.
blender on the ps2 is probably possible, but you need the source to recompile it and … i don’t think they can give that out at all now.
we can dream!
won’t you let us dream???
damn good point mind!
no. 
Mmmm, I have seen this at my last visit at blender3d.com:
http://www.blender3d.com/CompanyAndPress/alliances.php
So it realy shouldn’t be impossible to get a copy of blender for the PS2. But how much will it be?