The British Olympic Association will take over the running of the London 2012 educational programme after the Games.
BOA chief executive Andy Hunt described taking over the Get Set programme as a "no-brainer".
He said: "The Get Set programme has links to 20,000 schools.
"Children have been really excited about getting engaged with Olympic and Paralympic values....we really want to take that on and make that continue to thrive.
"We need to think through now how that will work with our 2018 Youth Olympic Games bid and our other brands around education legacy.
"The funding of that is something that will largely sit with the British Olympic Foundation. It is something we will seek to raise money for probably from both the public and private sector because it is an important initiative across both those areas."
Copyright (c) Press Association Ltd. 2012, All Rights Reserved.