is on course to challenge for a fourth consecutive Olympic gold medal after being named in the Great Britain sailing team for London 2012.
Finn sailor Ainslie, 34, will be joined in Weymouth by Beijing Olympic Star champions Iain Percy and Andrew Simpson and Laser gold medallist Paul Goodison.
Windsurfers Nick Dempsey and Bryony Shaw have also been picked for 2012.
"We all want to compete on home waters - it's a once-in-a-lifetime opportunity," Ainslie told BBC Sport.
Sailors in seven of the 10 Olympic classes were named by Team GB on Tuesday, with Hannah Mills and Saskia Clark selected in the 470 and Lucy Macgregor, sister Kate Macgregor and Annie Lush chosen in the Elliott 6m match-racing event.
GB 2012 Olympic sailing team:
Iain Percy, Andrew Simpson
Hannah Mills, Saskia Clark
Lucy Macgregor, Kate Macgregor, Annie Lush
(Women): Bryony Shaw
(Men): Nick Dempsey
To be decided
To be decided
To be decided
Decisions on Great Britain's one entry for each of the three remaining
- the 49er, men's 470 and Laser Radial - could be left as late as next May, although performances at the
in Perth, Australia this December are likely to prove critical.
The 11 sailors selected are the first confirmed names in Team GB's 550-strong squad for the Games.
"All the sailors have had a fantastic year of performances which has resulted in them gaining selection at an early opportunity, allowing them good time to focus their campaigns specifically on the challenges of Weymouth Bay and Portland Harbour," said Team GB sailing manager Stephen Park.
Tough task to make 2012 team - Ainslie
Ainslie developed his reputation sailing in the
, winning a silver medal behind arch-rival Robert Scheidt at the Atlanta Olympics in 1996 and then gaining revenge on the Brazilian in Sydney in 2000.
He subsequently switched to the heavyweight Finn dinghy, securing successive Olympic titles in
. But as he pursued a career outside of Olympic sailing - on the big-boat circuit and in the America's Cup - his British rivals caught up and Ainslie faced a tough battle to see off the challenge of Finn world champion Ed Wright and up-and-coming star Giles Scott.
"Previous qualification experiences helped but having the Olympics in the UK puts that added bit of pressure on," added Ainslie, who won the Sail for Gold regatta in Weymouth in June and the Olympic test event at the same venue last month.
"Having my selection confirmed is obviously a big relief. It's an honour to be selected to compete for Team GB.
Ben Ainslie's Olympic quest
Ben Ainslie is trying to emulate legendary Danish sailor Paul Elvstrom, who won four consecutive Olympic golds between 1948-1960, three of them in the Finn
Ainslie would join rower Matthew Pinsent on four consecutive Olympic golds
Only Sir Steve Redgrave (five) has won more golds at consecutive games for Britain
"It's now all about getting the plans right for my fitness and preparation to peak at the right time. You don't want to reach burnout and the Olympics are the end goal."
The 35-year-old Percy is going for a third Olympic gold medal after winning the Finn title in Sydney in 2000 and teaming up with Olympic debutant Simpson to take the Star title four years ago.
Goodison, 33, also faced a tough selection battle but has done enough to be picked ahead of team-mate Nick Thompson.
"To go from the lows of finishing fourth in Athens to then winning the gold medal in China was fantastic," said Goodison.
"I can only imagine what it would be like to repeat this feat again in Weymouth with my family and friends there on British waters."
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