The limited supply means cyclists will have a 1 in 100 chance to hire the special-edition bike ahead of the Tour’s arrival in the capital on 7 July.
Johnson hopes London’s seventh Grand Depart of the race will lead to an increase in tourism and subsequent ‘economic windfall’ for the city, two years after the 2012 Olympics.
The celebration of the cycling event comes as Johnson sets up the Major Events Oversight Board, which will analyse the impact major events have on the city.
Transport for London is also backing the publicity stunt by encouraging Londoners to tweet a picture of the yellow bikes under the hashtag #LDNyellowbike if they spot one.
Johnson said: "Much like the clamour for the golden tickets in Charlie and the Chocolate factory, people across the capital will now be on a frantic search for these beautiful yellow bikes. I am sure Londoners will share my excitement at once again welcoming the Tour to London."
Comment below to let us know what you think.For more in-depth and print-only features, showcases and interviews with world-leading brands, don't miss the next issue of Event magazine .