It was originally built for the 1934 Commonwealth Games, then known as the Empire Games, and the second version of the event.
It housed a swimming pool, which was used for the London 1948 Olympic Games.
Regenerated as part of the reconstruction of Wembley Stadium, it is the second largest arena in London after the O2.
A number of sports events take place at the venue, including the annual Snooker Masters tournament.
Ice Hockey, Boxing, Basketball, Netball and Darts have all featured as well at Wembley Arena in recent times.
With the World Gymnastics Championships being held at the Arena in 2011, it should be one of the best prepared venues for top class Olympic action next year.
Wembley Arena regularly hosts sporting events, from snooker to boxing and ice hockey.
A number of concerts are also held at the Arena, both musical and comedy, and it has even been the stage for Dancing on Ice.
Seven events will take place at the Arena during next year's Olympics, with up to 6,000 spectators able to watch the action.