Philbin will be responsible for the planning, organisation and management of the Olympic and Paralympic Fencing events in 2012, which will take place at the ExCeL Centre, close to the Olympic Park in East London, after organisers dropped plans to build a new facility for the sport.
She will also be responsible for running the as yet unspecified fencing test event.
Philbin said: "I'm delighted to have been appointed, and count myself lucky that the Olympic Games and Paralympic Games are coming to my home town in my lifetime.
"My aim is to deliver the best possible experience for everyone involved with the fencing event - competitors, officials, supporters, spectators and volunteers - and to ensure that London and fencing both have a lasting legacy."
Keith Smith, president of the British Fencing Association, said: "British Fencing is delighted that Hilary has been appointed to organise the fencing in the London 2012 Games, where both fencing and London will be on show to the world.
"Hilary has fencing in her blood.
"She has competed in two Olympic Games, is a former British Champion and now competes at veterans level where she has been European champion.
"She has a lifelong background in all aspects of Fencing administration and was a co-organiser of the highly successful World Veteran's Championships in Bath in 2006.
"With her professional career in project management, we are certain that Hilary will make London a very special event."
Philbin's responsibilities include the overseeing of all aspects of the fencing events, ensuring they are organised in accordance with the International Fencing Federation (FIE) rules, the International Olympic Charter and the Host City Contract.
She will be the focal point for liaison with the FIE, and will be working with all functional areas to ensure the coordinated delivery of a wide range of support services such as venue operations, accreditation, and transport.
Philbin will be training a large number of volunteers to assist her in her task.
She has a wealth of experience in both project management and operations management, and is currently working at the BBC.
This summer Philbin will be travelling to the Beijing Games to see what lessons can be learned from the fencing events there.
She will initially start her role on a part-time basis, becoming full time in mid-2010.
Philbin is the fifth competition manager that London 2012 have announced following archery, badminton, sailing and shooting.
More announcements are expected next week.