Australia's best swimmer Ian Thorpe is believed to be ready to announce news of his comeback.

Today's Daily Telegraph has reported that Thorpe told a few close friends this afternoon that he will be returning to his sport and plans to go to the 2012 London Olympics.

Thorpedo Thorpe won five Olympic gold medals before hanging up his swimmers in 2006 at the age of 24. 

He is expected to make an official announcement tomorrow.