The scheme will give fans left empty handed from the first round of ticket sales another opportunity to get their hands on some.
From 6 January to 3 February ticket holders will be able to sell back their unwanted tickets at full face value via .
If they remain unsold by 3 February, they will be returned to the ticket holder’s account.
Further resale opportunities are being planned from April 2012.
Locog chief executive Paul Deighton said: "We asked people to buy tickets more than a year out from the Games and mindful of that, we promised that we would create this system for people whose circumstances may have changed to enable them to resale their tickets legally and safely.
"I’m convinced that most people will want to hold on to their tickets, but we are pleased to offer this resale programme which will give those who wish to use it, an opportunity to securely sell their tickets to others who wish to go to the Games or purchase more tickets and help us to achieve our aim of having full venues."
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