The Olympic Park Legacy Company (OPLC) has shortlisted designs for what it calls London's newest public space.
Central to the 23ha site will be an area to welcome crowds in the south of the Olympic Park, to be renamed the Queen Elizabeth Olympic Park in 2013. The project, costing up to £12m, demands a "strong framework for spectacular, lively landscape".
The competition was launched in July and a winner from a shortlist of five teams will be selected later this month. The shortlist was chosen from more than 100 entries from across Europe, Asia and North America.
The winner will tackle a space between the Aquatics Centre, the stadium and the ArcelorMittal Orbit giant red sculpture. It will include water features, play facilities, a visitor centre and festival and performance space.
In the running are a list of big-name landscape architects and designers including Gustafson Porter, Piet Oudolf, West 8, James Corner Field Operations and Ken Smith Landscape Architect.
OPLC chief executive Andrew Altman said: "With millions of people expected to visit the park each year, this will be London's newest and most exciting public space.
"We are mobilising plans at pace. The south park will be a crossroads for sport, culture and good-quality design."
The judging panel includes former CABE Space chief and urban design and regeneration consultant Sarah Gaventa and landscape architect and public realm consultant Lindsey Whitelaw.
The size of London's newest public space in the Olympic Park, to be renamed the Queen Elizabeth Olympic Park in 2013 - 23ha.