The extraordinarily small, tight piece of underwear - sorry, 'sporting apparel', we've been told to say - will be part of an Olympic exhibition at the central London museum, with other notable memorabilia also featuring.
Daley won the bronze medal in the 10m platform diving event at the London Games, and has since embraced his celebrity status, fronting preposterous TV show 'Splash!' while continuing to build upon a vast range of endorsements.
But aside from Daley's famous budgie-smugglers, there will be a wide range of unique Olympic-related accessories and features at the display.
There will be over 70 objects, costumes, kits and personal accounts from the Olympic Games, with the yellow jersey which Bradley Wiggins sported at the opening ceremony also a key item.
At the heart of the display will be a collection of costumes and accessories from Danny Boyle's iconic opening ceremony, in which 17,500 volunteers participated, with highlights including a Mary Poppins outfit, an NHS nurse's uniform, a policeman's newsprint suit and an Olympic torch.
The free display runs for just a brief period - from Thursday 28 March until Thursday 31 October.
The Olympic collection will join approximately 24,000 other items in the Museum of London's dress and fashion collections dating from the Tudor period to the present day.
- Sports & Recreation
- Arts & Entertainment
- Tom Daley
- London 2012 Olympic Games