He will run for South Africa in the 400 metres event and the 4x400m relay, using prosthetic carbon fibre limbs.
“Today is truly one of the proudest days of my life,” Pistorius said.
“It is a real honour and I am so pleased that years of hard work, determination and sacrifice have all come together.”
Pistorius, 25, is known as the ‘Blade Runner’ for the prosthetic limbs he runs with.
It was decided in 2008 that he could legally compete against able-bodied athletes after the Court of Arbitration overturned a ruling by the International Association of Athletics Federations (IAAF).
Pistorius failed to achieve the qualifying time to compete in the individual 400m, but he was appointed part of the relay team. Relaxed rules by South Africa’s Sports Confederation and Olympic Committee, means he will get a chance to run in both at London 2012.
“Today is really one of the happiest days of my life!” Pistorius wrote on Twitter after his selection.
The athlete will also compete at the London Paralympic games in the 100m, 200m, 400m and 400×100 relay.
“I have a phenomenal team behind me who have helped get me here and I, along with them, will now put everything we can into the final few weeks of preparations before the Olympic Games where I am aiming to race well, work well through the rounds, post good times and maybe even a personal best time on the biggest stage of them all,” he said.
Pistorius made it through to the World Championship semi-finals in South Korea last year, and also earned a silver medal with the South African 4x400m team.