A large part of London's bid for the Games was based on what it would bring to disadvantaged areas, and it is understood the Department for Culture, Media and Sport (DCMS) is in discussions with Unicef to develop the campaign to support this.
A spokeswoman for Unicef confirmed that the charity was one of a number of global organisations looking at ways to promote the development of children through sport. She added that details of the campaign are yet to be finalised.
Unicef has used sport as a campaign platform in the past and has worked in partnership with football's world governing body, FIFA, since 1999. Recently it launched a 'goals for girls' initiative ahead of the 2007 FIFA Women's World Cup in China.