Team GB coach Stuart Pearce said: "It has not been an easy task to finalise my squad for this tournament and the stature of the competition and the uniqueness of occasion has underlined the importance of every decision.
The Big Interview - Tom Cleverley on the Olympics
"It is the Olympic games. Every player in this squad should be very proud they have a chance to compete for a gold medal on home soil."
The coach added that competing on home soil could be an advantage for his team, as he felt it was during Euro 96 when Pearce was a member of the England that reached the semi-final stage.
"With just 18 places it is very different from other international tournaments, the options are limited, but it is the Olympic Games and every player in this squad should be very proud they have a chance to compete for a gold medal on home soil," he added.
"I remember the huge advantage we gained from playing in front of our own fans during Euro 96, and I'm sure with the nation behind us it could be a fantastic tournament for us."
Team GB chef de mission Andy Hunt said: "The squad selected possesses a good blend of youth and experience.
Cleverley's stop-start 2011-12
7 August 2011
- Comes off the bench to help Manchester United come back from 2-0 down to beat Manchester City 3-2 in the Community Shield.
8 August 2011
- Called up to the England squad for Netherlands friendly only for the Wembley game to be called off due to riots in London.
10 September 2011
- Starts United's first four league matches but sustains a foot problem in a 5-0 win at Bolton. Makes just one more league start in the season.
29 October 2011 -
Returns to the starting line-up in a 1-0 win at Everton but is brought off before the hour and does not play again for four months due to ankle injury.
23 February 2012 -
Starts in a 2-0 win at Ajax but only makes one further start - in a 2-1 defeat at Atletico Bilbao in March. Comes off the bench on four more occasions in the league.
26 February 2012
- Called up for the rearranged Netherlands match by England caretaker coach Stuart Pearce but withdraws with a leg problem.
"In Stuart Pearce they have an experienced and passionate manager and I am sure the younger players will learn a lot from their time with Team GB at the Olympic Games."
Birmingham goalkeeper Jack Butland has also been included despite being a member of England's Euro 2012 squad.
The Football Association had claimed that no players who travelled to Poland and Ukraine would be considered but Butland, an unused substitute in Roy Hodgson's England squad at Euro 2012, is one of two keepers in the squad along with Middlesbrough's Jason Steele.
United midfielder Cleverley, 22, has an injury-plagued 2011-12 season, but speaking in March has made it clear that he was keen to be involved in the Olympics.
"Throughout my career I want to experience many things," said Cleverley. "The Olympics would be a fantastic part of it."
Blues keeper Butland, 19, is highly rated and was called into Roy Hodgson's England squad after Norwich's John Ruddy withdrew through injury.
He has represented England at Under-16 to Under-21 level but has yet to make his full international debut.
Butland is one of three players from outside the Premier League, alongside Jason Steele (Middlesbrough) and striker Marvin Sordell (Bolton).
Chelsea's Bertrand, 22, started for his team in their Champions League final defeat of Bayern Munich last season and expressed his delight at being included in the Team GB squad.
"My friends and family are really happy and proud," said Bertrand.
"To go out and gain more experience and be part of the Olympics team to represent Great Britain will be fantastic for me as an individual."
Team GB will play Senegal, UAE and Uruguay in their group games as they compete in the competition for the first time since 1960.
The team will play a friendly against Brazil in Middlesbrough on 20 July and their opening Olympic fixture is against Senegal at Old Trafford on 26 July.
J Allen (Swansea), C Bellamy (Liverpool), R Bertrand (Chelsea), J Butland (Birmingham), S Caulker (Tottenham), T Cleverley (Manchester United), J Cork (Southampton), C Dawson (West Brom), R Giggs (Manchester United), A Ramsey (Arsenal), M Richards (Manchester City), D Rose (Tottenham), S Sinclair (Swansea), M Sordell (Bolton), J Steele (Middlesbrough), D Sturridge (Chelsea), N Taylor (Swansea), J Tomkins (West Ham)
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