It is expected that some of the world's biggest names, including Foreign Office Architects, Allies and Morrison and HOK - the practices already involved in the Olympics masterplan - will throw their hats into the ring in a bid to design the new 80,000-seat stadium.
The announcement comes less than a fortnight after the AJ exclusively revealed that the Olympic Delivery Agency (ODA) had prepared a draft tender document for the stadium in the heart of the east London Olympics site (AJ 13.7.06).
A key element of the design will be how the arena can be converted to a 25,000-seat venue after the Games.
The ODA hopes the stadium will become 'the focus of the world media attention' and a 'recognisable landmark'.
The document reads: 'The creation of a stadium of this scale that delivers a powerful image for the Games [with its] innovative use of permanent and temporary forms and provides a cost-effective solution is a critical challenge of this contract.'
Speculation has already started about who else will enter the race to lead 'an integrated design and construction team' - with Norman Foster emerging as an early contender.
Once a design team has been selected, it is expected that the initial concepts will be revealed early next year.
The ODA has pencilled in a completion date in early 2011.
For more details about the contract notice visit www.ted.europa.eu(OJEU number 2006/s 139-149240).