The Active People, Active Park programme is expected to reach more than 90,000 people over the next three years and follows on from a pilot project which attracted more than 3,000.
There are three aspects to the programme. The first for those aged 14-25 is called Your Space and will feature a mixture of sport and physical activity sessions in both holiday and term time.
Have A Go taster sessions are aimed at adults who may not have played sports before, or those whose activity habit has lapsed and there will be family fun sessions for adults and children to enjoy together.
The money will be split between the London Legacy Development Corporation (LLDC), the four boroughs bordering the park, three leisure providers, five national governing bodies and seven local sports organisations. Local volunteers will be trained to be Park Activators advocating the project and encouraging local communities to participate.
LLDC chief executive Dennis Hone said the pioneering programme would offer a huge range of opportunities to get active.
Sport England director of community sport Mike Diaper said: "I’m really pleased our investment in the London Legacy Development Corporation will get people of all ages taking advantage of the fantastic facilities at the Queen Elizabeth Olympic Park to get into sport.
"Our Community Sport Activation Fund is making a real difference at a very local level and this latest investment is just another way we’re helping more people develop a sporting habit for life."
A number of events have already taken part in the park, which partially re-opened last summer and completely on April 5, including the first East London Mini Marathon, Sport Relief and sessions by Essex Cricket and West Ham United Community Sports Trust. The LLDC is also holding a Festival of Sport in the park on June 8.