The healthcare giant is expected to join the IOC's TOP global sponsorship programme, which counts Coca-Cola, McDonald's and Visa as partners, after the 2006 Winter Games take place in Turin next February.
Entry to the TOP partnership programme requires a minimum rights fee of an estimated £70m for a four-year cycle, which covers one Winter and one Summer event.
It is thought that J&J will commit until at least the London Games in 2012, taking its investment beyond £100m. The deal will enable it to use the Olympic Rings trademark across all its products and have an exclusive presence at future Games.
The decision to upgrade its involvement means the London 2012 organisers will be unable to sell a domestic sponsorship in the healthcare category as the TOP deal gives J&J exclusivity.
The IOC has remained tight-lipped about the agreement, but sources said that an official announcement was expected next March.
All the TOP partners are signed up until at least 2008. The IOC is currently in renewal talks for the next four-year cycle and beyond.
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