At the end of the four-day visit by the 13-strong evaluation commission, it said it was impressed by government's support and the passion surrounding the bid.
Bulldozers were working to clear the site when the inspection team viewed the area to the east of the city where major redevelopment is planned to house the Olympic Stadium and Village. Work had also started in the Millennium Dome to create a 20,000-seat indoor arena.
The Dome and the Olympic Park would combine with some of London's most historic venues such as Wembley, Lord's cricket ground and Wimbledon.
Since London last staged the Games in 1948, the country's reputation has been damaged by a failed bid to host the 2006 soccer World Cup, delays in redeveloping the new Wembley Stadium and the 2001 decision to pull out of hosting the 2005 world athletics championships at Pickett's Lock.
The commission will travel to New York and then Paris before finishing in Moscow in mid-March.
