The Mayor of London has asked the News Corporation chairman to accompany him to watch Rebecca Adlington defend her 800m swimming gold medal on Friday.
The media mogul will be in attendance at the aquatic centre with wife Wendi Deng and a variety of other media figures and business leaders.
According to the Evening Standard, Murdoch's invitation is understood to be because of his role as a business leader and as recognition for his investment in British sport over the years.
The Mayor's official spokesman said: "As the Mayor has always said, he will use the Games to shamelessly promote London as the leading business hub in Europe.
"With that aim in mind he's meeting and will continue to meet a range of business and media executives at or on the margins of Olympic events to further London's drive for investment that will spur jobs and growth."
The 81-year-old raised eyebrows recently when he described the Opening Ceremony of the Games as "a little too politically correct".
Guardian editor Alan Rusbridger is also understood to have been invited.
Murdoch's News International was subject to a government inquiry for its role in phone hacking after stories printed in The Guardian.
It is not understood whether Murdoch and Rusbridger are to attend the same event.
Picture gallery - London Olympics Opening Ceremony: