The spectacular event on August 24 will also see Led Zeppelin's Jimmy Page performing a duet with pop star Leona Lewis.
And an incredible finale will feature Becks, 33, arriving on top of one of London's iconic red double-decker buses - before he kicks a football into the crowd to celebrate.
Hundreds of dancers from the UK will then perform ballet and break-dancing routines as the countdown to 2012 begins.
An insider said: "It is set to be one of the most mind-blowing spectacles ever. David was elated to be asked to take part, as was everyone who has been invited.
"Having a rock god like Jimmy Page and a singer like Leona Lewis performing together for the first time will certainly be something to remember.
"The amount of planning is staggering. It will be truly momentous - and a fitting send-off as London takes up the 2012 challenge."
At the end of each Olympics, the next host puts on an eight-minute show. Organisers had already confirmed that dancers from urban group ZooNation will be joined by performers from the Royal Ballet and CandoCo, a disabled dance company.
The cost for the segment, and a similar one held at the end of the Paralympic Games, will be up to £2million.
The source added: "The performers are the best of British and that is what 2012 will be all about."
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