With more than 1,200 hours of sport on TV over the summer - equating to 13 hours a day - Games4Life intends to build on the excitement and encourage millions of people to get involved.
The drive entitled Games4Life promotes simple, no-cost, informal games designed to help children achieve a target of 60 active minutes a day and adults 150 active minutes a week.
The initiative comes against the background of newly released figures from the Welsh Health Survey showing that around one third of children and over half of Welsh adults are classified as overweight or obese.
The survey also revealed that fewer than one in three adults reported doing at least 30 minutes of exercise on five or more days a week, and only 52% of children reported doing at least 60 minutes a day.
Games4life provides individuals and families in Wales with personalised plans to help them achieve the daily or weekly target levels of physical activity.
The Welsh Government hopes the forthcoming Olympics will inspire both children and adults to become more active and thereby leave a valuable fitness legacy from the Games.
To launch the latest initiative, Deputy Chief Medical Officer for Wales, Dr Jane Wilkinson, joined children from Newton Primary School, Porthcawl, on Rest Bay beach to try out the games ideas suggested in the Games4Life programme.
"We all know how important it is to lead a healthy life, but surveys reveal that many adults and children spend much of the day being inactive. Getting your heart pumping every day can help prevent heart disease, cancer, stroke and type 2 diabetes, improve mental health and relieve stress."
Minister for Housing, Regeneration and Heritage, Huw Lewis, who is responsible for increasing participation in sport, said:
"With the school holidays coming up we hope that families use Games4Life's handy advice to become more active together and continue this in the future. We've suggested some really simple games that can be played anywhere at any time, so there should be no obstacle to a fit and healthy life."