And it's quite a start, with 12 gold medals decided on the first full day of competition.
Here's what you need to know.
Mark Cavendish looks to kick off the home nation's medal tally in the cycling road race. The 2011 BBC Sports Personality of the Year will have his work cut out staying in the peloton as the race flies over Surrey's Box Hill nine times. If he is still in contention near the finish on the Mall, then they can start engraving the gold medal. He is backed up by a fearsomely strong British team featuring Tour de France winner Bradley Wiggins.
Main rivals: Peter Sagan (Slovakia), Andre Greipel (Germany)
Cycling - Men's Road Race - 10:00-16:00
BIG NAMES IN ACTION
Michael Phelps, winner of eight gold medals in Beijing, is only going for seven this time. What a cop-out. He faces strong competition from fellow American Ryan Lochte and they face off in the men's 400m Individual Medley, which will give the first real indication of who will return home as the world's best swimmer.
Swimming - Finals including Men's 400m IM - 19:30-21:20
YOU HAVEN'T HEARD OF THEM BUT YOU SHOULD HAVE
Valentina Vezzali, fencing queen and Italy's answer to Steve Redgrave and Ben Ainslie. If she can retain the individual foil title she will become only the fourth athlete and first woman ever to win four consecutive gold medals in an individual event.
Fencing - Women's Individual Foil - 18:00-20:00
THE LONDON 2012 VIBE
Euphoric. The stunning Opening Ceremony has the host nation entering competition on a high. If we're all still feeling this good by the end of the day, it will represent a good result.
FRONT PAGE OF THE DAY
Where most of Saturday's newspapers opt for a wide shot of the Olympic Stadium, The Times opts for an atmospheric close-up for its double-page spread.
LONDON WEATHER FORECAST
A dry but cooler day. Sunny spells, top temperature 21°C
COMING UP ON EUROSPORT-YAHOO!
We've got comprehensive coverage of all the action throughout London 2012 - Olympic Games LIVE.
Swimming legend Pieter van den Hoogenband gives his verdict on the first day of action in the pool.
LEADING BRITS IN ACTION
09:30/10:10/11:00 — Rowing Heats: Women's Coxless Pair, Men's Eight, Men's Lightweight Four
10:00 - Cycling - Men's Road Race - David Millar, Bradley Wiggins, Mark Cavendish, Chris Froome, Ian Stannard.
10:00 — Equestrian - Dressage phase: Team and Individual Eventing (William Fox-Pitt & Mary King)
10:34/11:17 — Swimming Heats: 100 Fly - Ellen Gandy; 400 IM - Hannah Miley
11:00/15:30/20:00 — Gymnastics Qualification: Louis Smith (Pommel), Team (All-Around), Dan Purvis (All-Around)
13:30 — Boxing Last 32: Luke Campbell (Bantamweight)
17:15 — Football Group: GB Women v Cameroon
17:30 - Tennis Men's doubles first round: Murray/Murray v Melzer/Peya
19:40 — Swimming Semis: Women's 100 Fly - Ellen Gandy
20:10 - Swimming Finals: Women's 400m IM - Hannah Miley
20:30 - Boxing Last 32: Anthony Ogogo (Middleweight)
GOLD MEDALS AWARDED TODAY
11:20 - Shooting - Women's 10m Air Rifle
15:45 - Shooting - Men's 10m Air Pistol
16:10 - Judo - Women's Extra Lightweight (Under 48 kg)
16:15 - Cycling - Men's Road Race
16:20 - Judo - Men's Extra Lightweight (Under 60 kg)
17:10 - Weightlifting - Women's 48kg
18:25 - Archery - Men's Team
19:30 - Swimming - Men's 400m Individual Medley
19:50 - Swimming - Men's 400m Freestyle
20:10 - Fencing - Women's Individual Foil
20:10 - Swimming - Women's 400m Individual Medley
20:50 - Swimming - Women's 4x100m Freestyle Relay