Boyle will be artistic director with Daldry as executive producer, working alongside concert designer Mark Fisher, TV director Hamish Hamilton and Commonwealth Games producer Catherine Ugwu to oversee the opening and closing ceremonies of the Olympic and Paralympic Games.
Boyle, who won an Oscar for Slumdog Millionaire, said: "I'm honoured to have been invited to be the artistic director for the opening ceremony of the London 2012 Olympic Games. It's a completely unique opportunity to contribute to what I'm sure are going to be a fantastic Games, I'm really excited to be involved."
Daldry, whose stage and screen successes include Billy Elliot and An Inspector Calls, added: "Myself and my co-executive producers will ensure there is creative continuity across all four ceremonies, that the public have real engagement and that we continue to attract into key roles the best talent in the world. I'm delighted to be part of the team."
Although both men are no strangers to having their work viewed by a large audience, this will provide them with an unprecedented showcase – over a billion people worldwide tuned in to watch the 2008 Beijing Olympic opening ceremony.
According to the official London 2012 website, “Watched by a worldwide audience of one in three people, the Opening and Closing Ceremonies of the Games are always something to remember. They will welcome the world to London and set the tone for the 2012 Games. They will recognise the competing athletes and celebrate the Olympic and Paralympic values and spirit of friendship in a spectacular display of colour, excitement, pageantry and culture.”