A Metropolitan Police spokesman said a man aged in his mid-60s was arrested at the scene, just outside the Park, at 9.28pm on suspicion of causing death by dangerous driving.

The 28-year-old cyclist was hit by the double-decker bus, one of dozens of shuttles transporting thousands of journalists between the MPC and Olympic venues and central London, just before 7.45pm on Ruckholt Road at the junction with the A12 in Hackney, East London, about a mile from the Park.

Witnesses said that both the bus and the unidentified cyclist were turning left on the same corner.

The bus was travelling between the MPC and ExCel, where a number of sports are taking place, including boxing, judo and fencing.

The incident overshadowed a landmark day for British cycling when Bradley Wiggins had won the gold medal in the time trial event at Hampton Court Palace, adding it to his victory in the Tour de France.

A number of soldiers who are working on the Olympic Park during the Games were among those who tried to help the cyclist at the scene.

A spokesperson for London 2012 said: "We can confirm that a cyclist tragically died as a result of a collision with a bus carrying media from the Olympic Park this evening.

"The police are investigating the accident and our thoughts are with the cyclist's family."

A statement from the Metropolitan Police said: "At 19.42hrs on Wednesday, 1 August, police were called to a collision between a coach and a pedal cyclist at Ruckholt Road (A106) junction with the East Cross Route (A12).

"Police and London Ambulance Service, including air ambulance, attended the scene.

"The cyclist was pronounced dead at the scene at 20.14hrs.

"The collision is being investigated by the Metropolitan Police's Traffic Investigation Unit."

Police surround the scene of the London 2012 bus accident that killed a cyclist

A London Ambulance Service spokeswoman said: "We were called at just after 7.30pm to reports of a road traffic collision involving a cyclist and a coach on the A106.

"We sent a single response car, one ambulance crew, the London air ambulance and the duty officer.

"Sadly one person was pronounced dead at the scene by the air ambulance doctor."

The crash happened close to the Olympic Hockey Centre, Velodrome and Paralympic tennis arena.

Buses taking members of the media from the MPC into central London were suspended while Police investigated the incident.

They finally resumed shortly after midnight.

Wiggins has long campaigned for cyclists to be protected on the roads. 

"Cycling's a dangerous sport," he said.

"London's a busy city but I haven't lived here for 10-15 years and it's got a lot busier since I was riding a bike as a kid here.

"I got knocked off several times.

"Make it the law to wear helmets.

"There are a lot of things that need to be addressed on cycling,"

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