The initiative, called 'Your Park, Your Place', is encouraging members of the public to log on to www.legacycompany.co.uk to make their suggestions for the areas, which will open in phases from 2013.

Up to 8,000 new homes are being built as part of the project, as well as schools, nurseries, health centres and community spaces.

Olympic Park Legacy Company Chief Executive Andrew Altman said: "This is a unique opportunity to shape the history of London.

"We want people to feel a sense of ownership of their future Queen Elizabeth Olympic Park and the Your Park, Your Place competition is a great opportunity to get involved with the legacy plans.

"We want your suggestions and the stories behind them.

"The area has a rich history - people can use their own experiences of East London life for inspiration, or maybe they have relatives that worked in the area."

Boris Johnson, the Mayor of London, added: "Like any part of London these new neighbourhoods will have their own unique character, defined as much by the people who live, work and play there as by their landscape and buildings.

"What better start, therefore, than for Londoners to get involved in bringing them to life by naming them?

"Our city has some of the most famous place names of any city in the world, and with Londoners' help I am sure we can come up with some names that put Queen Elizabeth Olympic Park well and truly on the map and resound for centuries to come."

Olympic Legacy Minister Bob Neill said: "This competition will leave a tangible legacy for generations to come. I hope that having a chance to name areas within the Olympic Park will mean that people already living there can make sure their local knowledge and identity helps form the character of their area.

Entries are to be judged by a panel from across central and local Government, as well as the OPLC, who will select names based on criteria ranging from popularity, historical referencing and relation to the diverse communities each area will represent.

Schools, faith centres and other community centres will be encouraged to take part.

Up to 35 per cent of the homes are to be affordable housing, tying into the Mayor's London plan, and they will be an amalgamation of traditional Georgian and Victorian squares and terraces, and contemporary design.

The competition is open until Wednesday May 18. 

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