The 250-kilometre men's Road Race will take place on Day 1 and Cavendish is among the favourites. The race features nine ascents of Surrey's Box Hill and finishes on The Mall.
Cavendish said he is not concerned about the schedule, but has been planning for this event for a long time, so much so that he says he knows the Box Hill loop like the back of his hand.
Cavendish said: 'It's easy to get emotional about it. I've been nervous this week. We've trained to be able to deal with those nerves and we've got to put it to bed.'
He is joined in the five-man squad by Tour de France winner Bradley Wiggins, Chris Froome, who was second, David Millar and Ian Stannard.
The 27-year-old, who won the test event over a modified route last August, added: 'We were motoring along in training and I just looked round and it's the dream team.'
The German Andre Greipel could be one of Cavendish's key rivals for gold, along with Peter Sagan of Slovakia, Norwegian Edvald Boasson Hagen and Matt Goss of Australia.
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