The new course will also provide a permanent legacy for the region and for whitewater sports.
The facility, the first of its kind in south-east England, is a key project for the ODA which is also leading the delivery of the new Olympic Park in East London.
David Higgins, ODA Chief Executive, said: "The Olympic Delivery Authority is committed to delivering a high quality venue at Broxbourne that will provide an important sporting and regional legacy after the Games. Providing a legacy is critical to all our thinking."
The new white-water course will be available for a test event in 2011 and for pre-Games training and competition use.
The venue will serve as a catalyst for regeneration in the Spitalbrook area, incorporating leisure use along with environmental enhancements to the area.
A consultancy team led by Drivers Jonas has been appointed by the ODA to start immediately on developing plans for local and statutory authority consultations and masterplan studies.
This will lead to a recommendation about how the project can best be taken forward.
Chairman of the Organising Committee for the London 2012 Olympic and Paralympic Games, Sebastian Coe, said the new venue will enable the skills and excitement of canoeing to be showcased in a spectacular sports setting at the London 2012 Games.
"Our vision is to inspire more young people into sport and new venues like the Broxbourne canoe course will provide much needed new sports facilities and opportunities to increase sports participation and physical activity amongst young people, which will lead to healthier and better resourced communities," Coe said.
Chief Executive of the British Canoe Union Paul Owen, said the new course would help to grow the sport of canoeing and promote Broxbourne and the Hertfordshire region as an Olympic host venue and destination.
"This venue will lead to a new era in canoeing and help to broaden the appeal of the sport amongst young people," Owen said.
The facility will be located on land next to Broxbourne railway station owned by the Lee Valley Regional Park Authority (LVRPA).
Shaun Dawson, Chief Executive of LVRPA, said: "We are very excited to be working with the Olympic Delivery Authority to develop a world-class regional sports and leisure facility that will open up the Spitalbrook site to the public for the first time in over 100 years."
The Masterplan will also include substantial environmental enhancements to the site, including an Otter and Water Vole sanctuary.
The ODA is working in partnership with the Lee Valley Regional Park Authority (LVRPA), the London Organising Committee for the Olympic Games (LOCOG) and the British Canoe Union (BCU).
A broad stakeholder group led by LVRPA with the support of East of England Development Agency (EEDA) and other local bodies is taking forward a parallel study of potential social, economic and environmental regeneration opportunities that can be catalysed by this Olympic investment.
- Ends -Notes to EditorsThe Olympic Delivery Authority is a statutory corporation set up under the London Olympic Games and Paralympic Games Act 2006 to deliver the permanent venues and infrastructure needed for the 2012 Games.
The Drivers Jonas' Sport team is supported by FaulknerBrowns architects, Strategic Leisure, Indigo Planning, Fairhurst civil engineers and Cole Easdon transport consultants.
Media EnquiriesContact the Olympic Delivery Authority Press Office on 020 3 2012 700
www.london2012.com