Campbell, 28, trains at Atlas Weightlifting Club in Alfreton and made history at Tokyo 2020 by becoming the first British woman to medal in weightlifting at the Olympics with silver.
In 2021, she also won bronze in the World Championships as well as winning the European Championships in Moscow.
She is aiming to build on her 2018 Gold Coast Commonwealth Games bronze to Bring It Home in 2022.
Reflecting on her selection as flagbearer, Campbell said: “‘I am extremely honoured to have the opportunity to fly the Team England flag high at the opening ceremony of the Birmingham 2022 Commonwealth Games.
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"It makes it so much more special that I get to do it in front of a home crowd on Midlands soil! It really doesn’t get any better than that.
“Being the first female weightlifter ever - and the first weightlifter to be flag bearer since the legend Precious Mackenzie in 1974 has me bursting with pride and I hope this moment will inspire other young girls to chase their dreams whether that’s in sport or anything else they have ambitions of becoming. I really can’t wait to get out there with the team!”
Campbell will be joined as flagbearer by Jack Laugher, 27, who became Britain’s first Olympic champion in diving with victory in the men’s 3m synchro, alongside Chris Mears, at Rio 2016 and also has five Commonwealth gold medals to his name.