The announcement that hotel group has become a third-tier sponsor is expected to be made on Monday, according to Marketing magazine.
InterContinental is believed to be putting up £5m in capital towards the sponsorship and will provide a further £5m worth of accommodation and services before and during the Olympics
It will join a raft of sponsors for the London 2012 Olympics, including Lloyds TBS, EDF Energy and British Airways.
As part of the 2012 Olympic bid, London hoteliers had to commit to a price for 1,800 rooms over the duration of the Olympic Games for the IOC and its entourage.
Room rates for the 2012 dates have been set at $290 (£158) for hotel rooms in and around the Park Lane area.
By Daniel Thomas
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