The agency has teamed up with sports bid expert Jon Tibbs to set up the new division, called Weber Shandwick Global Bid Unit.
In 2001, while at Bell Pottinger, Tibbs headed European PR efforts for Beijing's successful bid for the 2008 Olympic Games. WS handled the US side of that bid.
Tibbs, who set up his own sports events firm Jon Tibbs Associates last year, will lead the unit alongside WS vice-chairman Lord Tom McNally.
The move comes at a critical stage as ministers prepare this month to announce whether or not to back the British Olympic Association's bid.
Lord McNally said: 'As Britain considers a possible bid for the 2012 Olympics, this is an exciting and timely initiative.'
The unit will also target the FIFA 2010 World Cup along with events such as City of Culture bids.