The deal means viewers will be able to watch every Olympic sport live for the duration of the summer games through their TV sets.
Previously, the BBC had only planned to broadcast the streams online.
It will be the first time viewers have been given the opportunity to follow one particular sport throughout the day.
The services will be in addition to coverage on BBC One and BBC Three, which will air all of the key moments from the Olympics, as well as other platforms including Radio 5 live.
Together, this coverage will deliver around 2,500 hours of live sport coverage through the various BBC platforms during the Games.
"These are the first truly digital Olympics, where we'll offer more choice than ever before,"said Roger Mosey, the BBC's director of London 2012, on his blog.
The BBC's home of 2012: Latest Olympic news, sport, culture, torch relay, video and audio
"You'll be able to watch sport from every venue from first thing in the morning to last thing at night... Hockey fans can watch live uninterrupted hockey, and table tennis fans can stick all day with their sport too."
Mr Mosey said the BBC had agreed with Sky and Freesat to show the live streams across 24 channels, with more announcements from other providers expected soon.
"The aim is that you'd be able to pick from watching BBC Olympics 1 right through to BBC Olympics 24 with full programme guides and the ability to record your favourite sports," he said.
However Mr Mosey added: "Not every platform will be able to accommodate such a huge technical offer, which amounts to 48 channels in total if you count 24 SD (Standard Definition) plus 24 HD."
Freeview users will have access to two additional channels available through the BBC Red Button, providing up to four channels at peak times.

Daphne Reid, 66, died after a fire broke out at her Silverhill Park home in Enniskillen on 27 December 2015.
Her husband Franklin, who was 70, died just over a week later from injuries sustained in the blaze.
Coroner Joe McCrisken said police officers disregarded their own safety to try to rescue the couple.
He added that they should be hailed as heroes.
The fire began when a cigarette fell on to a carpet in a bedroom where Mr Reid was sleeping.
The inquest in Enniskillen on Monday heard how police officers, who were the first of the emergency services staff to arrive at the scene, did not follow official training guidelines that say all rescue attempts should be left to the fire service.
Mr McCrisken said the Police Service of Northern Ireland should consider an official recognition for the officers who tried to save the couple.
PC Daniel Finnegan broke windows to let some smoke out before attempting to enter the burning house.
He told the coroner: "It was a personal judgment call."
PC Damien Maguire also attempted to enter the house through the burning, but was prevented from doing so by thick smoke.
The coroner also praised paramedics and firefighters, one of whom entered the property without breathing apparatus to rescue Mr Reid.
Enniskillen fire station commander Padraig McKeon arrived at the scene shortly after the failed police efforts to access the pensioners.
The inquest heard that he felt able to enter the property without breathing apparatus because much of the smoke had left the building.
The BBC is to make 24 live HD Olympic streams available to cable and satellite providers.
[NEXT_CONCEPT]
A coroner has praised emergency services staff who attended a house fire in County Fermanagh that claimed the lives of two people.