Paraguay Olympic Committee (Spanish: Comité Olímpico Paraguayo) confirmed a team of 11 athletes, six men and five women, to compete in seven sports at the Games.

The Paraguayan roster featured five returning Olympians; two of them attended their third Games as the most experienced competitors, including table tennis player Marcelo Aguirre, and freestyle swimmer Benjamin Hockin, who represented Great Britain as a member of the relay squad on his Olympic debut in Beijing eight years earlier.

Meanwhile, three other athletes competed at their maiden Olympics in London: single sculls rower Gabriela Mosqueira, Hockin's fellow swimmer Karen Riveros (women's 100 m freestyle), and tennis star Verónica Cepede Royg.

World-ranked golfer Julieta Granada was selected to carry the flag for Paraguay in the opening ceremony, joining with rower Rocio Rivarola as the only females in the nation's history to accept the role.

[11][12] Paraguay has received an invitation from the Tripartite Commission to send two-time Olympian Marcelo Aguirre in the men's singles to the Olympic table tennis tournament.