Hills, who previously covered the Beijing Paralympics for ABC in Australia, will work alongside Clare Balding, basketball medallist Ade Adepitan and T4's Rick Edwards. Hills was born without a right leg and has a prosthetic replacement.
British triple jump athletics star Jonathan Edwards has signed up for the commentary team, while Jon Snow will front the opening and closing ceremonies.
Channel 4 vowed when they won the rights to the Paralympics that half of their presenters would be disabled.
Other anchors and presenters signed up include Irish TV star Daráine Mulvihill, former Royal Marine Arthur Williams, Paralympic swimmer Rachael Latham, wheelchair basketball player Jordan Jarrett-Bryan, ex carpenter Martin Dougan, researcher Liam Holt and sports writer Alex Brooker.
Channel 4 controller Jay Hunt claimed that it was a "huge privilege" for Channel 4 to broadcast the Paralympic Games 2012 and described it as a chance to "make a difference to the perception of disability and disability sport".
"I'm thrilled to announce this brilliant and carefully selected team of presenters and reporters; a mix of broadcasting heavyweights and new faces including disabled talent," said Hunt.
"Our coverage will contain in-depth analysis and intelligent, frank and thought-provoking insight from people who are equipped to bring these incredible but little-understood sports to a broad mainstream audience and help us to make this the biggest Paralympic Games ever.
"We will be on air before the sport of the day begins and until the last flag has been rolled up and put away with all the action, expert comment and analysis and specially commissioned breakfast and tea time shows.
"This is a 400% increase on the coverage the Paralympics has ever received in this country and will make it impossible to ignore."
Channel 4 is promising that the Paralympics will be the biggest broadcasting event in its history and the 150 hours of coverage will be the most ever on British television for the Paralympics.
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