Four-time Olympic champion Chris Hoy will be Britain's flag bearer at the opening ceremony for the London Games.
The cyclist, who won the vote of the 542-strong British team, also carried the Union Jack in the closing ceremony in Beijing four years ago.
The honour comes after the 36-year-old Hoy was informed by British Cycling that he wouldn't be able defend all three of his track titles from 2008 at the London Olympics.
While he has a chance to again win gold medals in the keirin and team sprint, he will not be able to defend his individual sprint title.
"I'm absolutely delighted and honoured to have been voted as the flag bearer for Team GB," said the 36-year-old cyclist.
"To lead out your team at a home Olympics is truly a once in a lifetime opportunity and one that that I can't wait to experience in just a few days time."
The Scot is one of Britain's most successful Olympians.
Brian Cookson, President of British Cycling, told the BBC: "It's absolutely fantastic news. Sir Chris is a brilliant athlete and a fantastic ambassador for the sport of cycling.
"Just when you think it can't get any better it does - it is the cherry on the cake for British Cycling after Bradley Wiggins' success in the Tour de France on Sunday.
"Hoy is reaching his potential just at the right time in the sport and deserves this pivotal role at London 2012."