His fellow American Olympians nominated LeBron to be the male flag bearer, and Tuesday will see the announcement of the female flag bearer.
James, a two-time gold medalist, will be competing in his fourth Games in Paris.
He said: “It’s an incredible honour to represent the United States on this global stage, especially in a moment that can bring the whole world together.
“For a kid from Akron, this responsibility means everything to not only myself but to my family, all the kids in my hometown, my team-mates, fellow Olympians, and so many people across the country with big aspirations.”
James, a four-time NBA champion and the league’s all-time leading point scorer, won bronze in Athens in 2004 when he competed in his first games.
The American won gold for the first time in Beijing four years later and added another in London 2012.
The ceremony on Friday night, which will take place on the River Seine, will mark the first opening ceremony in the history of the summer Olympics to take place outside the main stadium.
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