"We have chosen Yelena Isinbayeva to be the mayor of the athletes' village in the coastal cluster," Sochi 2014 chief Dmitry Chernyshenko told reporters following a board meeting of the Russian Olympic Committee.
"Later we'll name the mayor of the mountain cluster."
Isinbayeva, 30, who won the gold at the 2004 Athens Olympics before repeating the feat four years later in Beijing, was virtually unbeatable between 2003 and 2009.
After suffering a shock defeat at the 2009 world outdoor championships in Berlin, she took a break from the sport before making a comeback last year.
The Russian has said she is planning to stay in the sport until the 2016 Olympics in Rio de Janeiro after winning only a bronze medal at this year's Games in London.
The coastal cluster is located in the main Olympic Park near the centre of the Russian Black Sea resort.
In addition to the athletes' village, it will house the Olympic stadium, arenas for ice hockey, curling, figure skating and speedskating and the main broadcasting centre.
The mountain cluster, located in Krasnaya Polyana some 70 kms from central Sochi, will stage all the Alpine events, cross-country skiing, biathlon, bobsleigh, luge and ski jumping. (Reporting by Gennady Fyodorov; Editing by Clare Fallon)