|Good idea, Boris|
He pointed also to figures predicting the festival would attract more than 200,000 visitors to the capital and generate tens of millions of pounds in economic benefit.
"This spectacular event will help ensure that the 2012 Games are just the start, not the end of the benefits of hosting the Olympics," Johnson, who faces a re-election battle in May against his old Labour foe Ken Livingstone, said in a statement.
"We are already creating long lasting opportunities for the Park and the capital, which will showcase London to the world, attract more visitors, create more jobs and support the economy," added Johnson who was addressing business leaders later at the World Economic Forum in Davos.
London already has some 6,000 rental 'Boris Bikes' on its streets as part of a scheme launched by Johnson, a tousle-headed extrovert frequently photographed puffing around the capital on two wheels, in 2010.
Authorities say there has been a 15 percent increase in cycling over the last year alone and Britain's Olympic cyclists are tipped for glory again this summer after sweeping seven golds in Beijing four years ago.
Organisers plan the event to start with a "family fun ride" involving up to 70,000 cyclists on an eight mile loop of closed roads around London landmarks.
The next day would see up to 35,000 amateur, club and world class riders tackling a 100 mile course starting in the Olympic Park and heading into the southern county of Surrey along part of the 2012 Olympic road race course.
A tender process will be launched for potential bidders to become the commercial partner.