At the event in the Pierhead building in Cardiff Bay, he welcomed members of the teams who have used locations across Wales to prepare for the biggest international sporting event in the world.
The Olympic teams who have been based in Wales are Russia, Botswana, Hong Kong, New Zealand, Trinidad and Tobago, Lesotho and the Amateur International Boxing Association.
The Legacy Trust ‘Follow the Flame’ exhibition was on show during the reception. The exhibition uses the 2012 Games as the impetus to explore and celebrate the inspiring history of often-forgotten Welsh men and women who attended the Games.
The First Minister used the reception as an opportunity to promote Wales as a training destination ahead of the 2014 Commonwealth Games in Glasgow.
The First Minister said:
"It is great to welcome the Olympic teams who have been undertaking pre-Games training here in Wales and I hope their preparation is going well as we approach the final countdown until the 2012 Games officially begin.
"We are delighted that Wales can offer international standard sporting facilities that have attracted top teams from around the world. The pre-Games training camps have provided an excellent opportunity to develop Wales’ sporting, educational and cultural links with the countries represented here today.
"I wish the teams who have made Wales their home good luck at the Games and hope that you will return to Wales with your medals."
Huw Lewis, Minister for Housing, Regeneration & Heritage also attended the event. He said:
"Sport is a major influence on young people and having athletes of global stature training on their doorstep and living in their communities has been hugely inspirational. They have given local communities and especially young people the opportunity to learn more about other nations and provide a positive Games legacy for Wales."
Although the Games are being staged in London, Wales will be hosting the first event of the Games in the iconic Millennium Stadium - the GB vs. New Zealand women’s football on the 25th July.