Every secondary school and further education college in the capital is invited to nominate two teenagers to take part in the Torch relay on June 26.
The British Olympic Association and Greater London Authority have also asked youth groups to nominate inspirational teenagers to take part in the event with some of Britain's leading sports stars.
It is the first time since the 1948 London Olympics that the torch will return to the city which is bidding to host the 2012 games.
Selected torchbearers are likely to share the honour with many of Britain's Olympic gold medal winners such as Sir Steve Redgrave.
London's leg of the relay, which will include all 34 cities which have hosted a modern Olympics, will start in Wimbledon's Centre Court on the middle Saturday of the tennis championships in June before being carried past familiar landmarks such as Tower Bridge and St Paul's Cathedral Ken Livingstone, mayor of London, said: "The torch relay will be a great day for London, allowing us to share in the spirit of the Olympics and showcase our beautiful city.
"People from all over the country will act as torchbearers, but we particularly want London's young people to have the opportunity to take part in this historic event."
Torchbearers must be over 14 and will be selected by an independent judging panel according to criteria set by the Athens Olympic Committee.
Individuals may also apply to be torchbearers at www.samsung.co.uk