Fans and athletes alike will be watching in freezing temperatures, so you will be glad to hear that you can watch the events unfold from the comfort of your own home.
The theme for the ceremony in South Korea is peace - a fitting topic seeing as North and South Korea have agreed to march under one flag in the ceremony.
Here’s what you need to know about of the ceremony…
How to watch on TV
The ceremony will be shown live on BBC One and Eurosport on Friday 9th February, with coverage from 10.30am GMT.
Alternately, you can follow all of the action in our blog below.
How to watch online: streams and Apps
You can watch the ceremony via the BBC website, while Eurosport is also available via Amazon. The channel costs £4.99 per month after an initial free seven-day trial.
Team GB will take their largest team ever to a Winter Olympics when the 59-strong team descend upon Pyeongchang in South Korea for the competition.
The team will be looking to beat their previous best medal haul of four, which they have achieved on two occasions in 1924 and 2014.
Lizzy Yarnold, Team GB's flag bearer, won gold in Sochi four years ago, and will be looking to be victorious again in the Women's Skeleton.
Elise Christie will be keen to forget her three disqualifications in Russia in 2014, hoping to 'win big' this time out, while youngest GB athlete, Katie Ormerod, 20 will be competing in the Women's slopestyle Snowboarding.
DFS is proud to continue its support of Team GB as the official homeware partner, bringing the joy of comfort to Team GB athletes throughout 2018 and beyond.