The collection - Isle of Man's 2012 London Olympic Games - was launched at Regent Street Post Office in the first few moments of 2012.
The office opened on New Year's Eve for the official launch which was attended by a number of invited guests including British national archery champion Aalin George who is from the Isle of Man.
Seven stamps have been designed, which reflect some of the 24 Olympic sports, as well as a cycling miniature sheet.
Sir Paul Smith, who is a lifelong follower of world cycling and a friend of Manx missile Mark Cavendish, said: "It's a real honour to be asked to design these stamps. I've tried to make them positive and colourful with a strong graphic style of design. I hope you like them."
The 2012 Olympic Games will take place between July 27 and August 12. There are 26 Olympic sports in total which will be held in 34 venues across the UK.