Controversial sprinter Chambers will compete over 100m in the capital next month after being included in a 71-strong squad for the Games named by the British Olympic Association this afternoon.
Chambers, 34, finished fourth in the 100m in Sydney in 2000, but has not featured in the Olympics since following his two-year suspension for systematic drug use and the imposition of the BOA's lifetime ban. However, the BOA ban was overturned by the Court of Arbitration for Sport earlier this year, paving the way for him to compete at a home Olympics.
But the real story came in the women's 800m as former World Championship bronze medallist Jenny Meadows was among four athletes with the 'A' standard time left out in favour of Sharp.
Chambers was not able to secure his place in London automatically as, despite winning the trials in Birmingham, he failed to run the 'A' qualifying standard of 10.18 seconds.
However, that victory ahead of his domestic rivals as well as his past performances have proved enough to gain selection.
His place on the team had looked a certainty ever since he was given the option of not chasing the qualifying time at last week's European Championships in Helsinki.
Chambers was joined in the 100m by teenager Adam Gemili, the British number one this season, and James Dasaolu, who were second and third at the trials and have both run the 'A' standard.
Chambers said: ""It is a real honour to be selected as part of Team GB today.
"For me representing my country in an Olympics is a privilege that should never be taken for granted. To be given the opportunity to do so in my home town has been a dream that at times has seemed very distant and is now a reality.
"It is now my responsibility to prepare fully for the 100m, the relay, to support all my fellow athletes and all my other colleagues within Team GB. It is a very proud day and I thank the selectors for the confidence and faith they have placed in me."
Edinburgh athlete Sharp won last month's trials in Birmingham and then went on to win silver at the European Championships in Helsinki, but she did not have an 'A' standard.
Picking her, therefore, meant selecting no-one else as athletes with the 'B' standard can only be selected if no-one with the 'A' is chosen.
Marilyn Okoro and Emma Jackson, the British number one and two this year who performed poorly at the trials, were also left out, as was Jemma Simpson, who was second in Birmingham.
Meadows, who has not raced in 2012 because of an Achilles injury, had indicated before the selection she would appeal if she was left out and she is unlikely to be the only one to do so.
UK Athletics head coach Charles van Commenee has already said he is bracing himself for a "heap of appeals" from desperate athletes.
Any appeal must be lodged within 24 hours of the team announcement and then heard within 48 hours. The appeals panel consists of UKA chairman Ed Warner, UKA president Lynn Davies and an independent barrister.
Okoro was included in the 4x400m relay squad.
Van Commenee, who has set a target of eight medals, including one gold, for the Games, said: "I am very proud to have nominated such a strong team of athletes to Team GB. Our collective philosophy since Beijing has been one of raising the bar as we work towards London 2012.
"I believe this team is well prepared to go out there, be competitive and achieve on the greatest sporting stage in front of a home crowd."
Chambers was joined in the squad by another athlete previously barred due to a drugs ban, with Carl Myerscough selected in the shot put.
Elsewhere, European champion Rhys Williams took the third spot in the 400m hurdles, world bronze medallist Andy Turner the third spot in the 110m hurdles and Michael Rimmer joined Andrew Osagie in the 800m.
The athletes selected for Team GB are:
Men
Adam Gemili - 100m and 4 x 100m (age: 18, born: London, lives: Dartford)
Dwain Chambers - 100m and 4 x 100m (age: 34, born: London, lives: London)
James Dasaolu - 100 and 4x100m (age: 24, born: Croydon, lives: Loughborough)
Christian Malcolm - 200m and 4x100m (age: 33, born: Cardiff, lives: Newport)
James Ellington - 200m and 4x100m (age: 26, born: Lewisham, lives: London
Martyn Rooney - 400m and 4x400m (age: 25, born: Croydon, lives: Loughborough)
Conrad Williams - 400m and 4x400m (age: 30, born: Kingston, Jamaica, lives: Hither Green)
Nigel Levine - 400m and 4x400m (age: 23, born: Bedford, lives: Bedford)
Andrew Osagie - 800m (age: 24, born: Harlow, lives: Twickenham)
Michael Rimmer - 800m (age: 26, born: Southport, lives: Manchester)
Ross Murray - 1500m (age: 22, born: Gateshead, lives: Twickenham
Andrew Baddeley - 1500m (age: 30, born: Merseyside lives: London)
Nick McCormick - 5,000m (age: 30, born: Newcastle, lives: Loughborough)
Mo Farah - 5,000 and 10,000 (age: 28, born: Somalia, lives: Portland, USA)
Chris Thompson - 10,000m (age: 31, born: Barrow-in-Furness, lives Oregon USA)
Stuart Stokes - 3,000m steeplechase (age: 35, born: Bolton, lives: Bolton)
Lawrence Clarke - 110m hurdles (age: 22, born: London, lives: Bath)
Andrew Pozzi - 110m hurdles (age: 19, born: Leamington Spa, lives: Bristol)
Andy Turner - 110m hurdles (age: 31, born: Nottingham, lives: Sutton)
Dai Greene - 400m hurdles and 4x400m (age: 26, born: Llanelli, lives: Trowbridge)
Jack Green - 400m hurdles and 4x400m (age: 20, born: Maidstone, lives: Bath)
Rhys Williams - 400m hurdles (age: 28, born: Cardiff, lives: London)
Robbie Grabarz - high jump (age: 24, born: Enfield, lives: Birmingham)
Steve Lewis - pole vault (age: 26, born: Stoke on Trent, lives:London)
Greg Rutherford - long jump (age: 24, born: Milton Keynes, lives: Milton Keynes)
Chris Tomlinson - long jump (age: 30, born: Middlesbrough, lives: London)
Philips Idowu - triple jump (age: 33, born: Hackney, lives: Birmingham)
Mervyn Luckwell - javelin (age: 27, born: Milton Keynes, lives: Loughborough)
Lawrence Okoye - discus (age: 20, born: Croydon, lives Croydon)
Brett Morse - discus (age: 23, born:Cardiff, lives: Penarth)
Abdul Buhari - discus (age: 30, born: Nigeria, lives: London)
Carl Myerscough - shot put (age: 32, born: Blackpool, lives: USA)
Alex Smith - hammer (age:24, born: Hull, lives Hull)
Daniel Awde - decathlon (age: 24, born: Essex, lives Essex)
Dominic King - 50k walk (age: 29. Born: Colchester. Lives: Colchester)
Danny Talbot - 4x100m (age 21, born: Sailisbury, lives: Trowbridge)
Simeon Williamson - 4x100m (age: 26, born: London, lives: Enfield)
Mark Lewis-Francis - 4x100m (age: 29, born: Birmingham, lives: London)
Richard Buck - 4x400m (age: 25, born: York, lives: Loughborough)
Luke Lennon-Ford - 4x400m (age: 23, born: Sutton Coldfield, lives: London)
Rob Tobin - 4x400m (age: 28, born: Lincoln, lives: Basingstoke)
Previously selected for marathon: Scott Overall - (age:
29, born: London), Dave Webb - (age: 30, born: Leeds), Lee Merrien - (age: 34, born: Guernsey)
Women
Abi Oyepitan - 100m and 200m (age: 32, born: London , lives: London)
Anyika Onuora - 100m and 200m (age: 27, born: Liverpool, lives: London)
Margaret Adeoye - 200m (age: 27, born: London, lives: London)
Christine Ohuruogu - 400m and 4x400m (age: 28, born: London, lives: London)
Shana Cox- 400m and 4x400m (age: 27, born: Brooklyn, USA, lives: London)
Lee McConnell - 400m and 4x400m (age: 33, born: Glasgow, lives: Glasgow)
Lynsey Sharp - 800m (age: 21, born: Edinburgh, lives: Edinburgh)
Laura Weightman - 1500m (age: 21, born: Alnwick, lives: Leeds)
Lisa Dobriskey- 1500m (age:28, born: Ashford, lives: Loughborough)
Hannah England - 1500m (age: 25, born: Oxford, lives: Birmingham)
Jo Pavey- 5,000m and 10,000m (age: 38, born: Exeter, lives: Exeter)
Julia Bleasdale - 5,000m and 10,000m (age: 30, born: Surry, lives: Surrey)
Barbara Parker- 5,000m and 3,000m steeplechase (age:29, born: King's Lynn, lives: California, USA)
Eilish McColgan- 3,000m steeplechase (age: 21, born: Dundee, lives: Carnousie )
Johanna Jackson - 20km walk (age: 27, born: Middlesbrough, lives: Leeds )
Tiffany Porter- 100m hurdles (age: 24, born: Michigan, USA, lives: London)
Perri Shakes-Drayton - 400m hurdles (age: 23, born: London, lives: London)
Eilidh Child - 400m hurdles (age: 25, born: Perth, lives: Kinross/Bath)
Holly Bleasdale- pole vault (age: 20, born: Preston, lives: Chorley)
Kate Dennison- pole vault (age: 28, born: Durban, SA, lives: Loughborough)
Shara Proctor- long jump (age: 23, born: Anguilla, lives: Atlanta, USA)
Yamile Aldama - triple jump (age: 39, born: Havana, Cuba,lives: London)
Sophie Hitchon - hammer (age: 20, born: Burnley, lives: Loughborough)
Goldie Sayers - javelin (age: 29, born: Newmarket, lives: London)
Jessica Ennis - heptathlon and 100m hurdles (age: 26, born: Sheffield, lives: Sheffield)
Katarina Johnson-Thompson - heptathlon (age: 18, born: Liverpool, lives: Liverpool)
Louise Hazel - heptathlon (age: 26, born: Southwark, lives: Birmingham)
Marilyn Okoro - 4x400m (age: 27, born: London, lives: London)
Nicola Sanders - 4x400m (age: 30, born: High Wycombe, lives: Bourne End)
Emily Diamond - 4x400m (age: 21, born: Bristol, lives: Bristol)
Previously selected for marathon: Paula Radcliffe (age:
38, born: Davenham, Cheshire), Mara Yamauchi (age: 38, born: Oxford) Claire Hallissey (age: 29, born: Watford)
PA
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