It will be the first time a Toyota has led the field to the green flag for the "Great American Race".
The specially equipped pace car is fitted with Goodyear Eagle F1 Asymetric tyres mounted on BBS RS 8.5 x 19 wheels, a StopTech Big Brake Kit, TRD custom stainless steel exhaust and Tein adjustable suspension - as well as special graphics and warning lights.
Safety equipment includes a roll cage, four-point Simpson racing seat belts, Whelen LFL Liberty LED lightbar and an on-board fire extinguisher.
Ed Laukes, vice president of marketing communications and motorsports for Toyota in the United States, said the Daytona 500 was the perfect place to showcase the new Camry.
"We're thrilled to be able to feature the new Camry in Daytona at the season's biggest race," Mr Laukes said.
"We knew when the opportunity arose to partner together with Daytona that it would be an extraordinary way to highlight our new Camry, as well as reinforce Toyota's commitment to NASCAR and its fans," he said.
Camry has been the best-selling car in America 14 of the past 15 years and for 10 years running.
In Australia, Camry has been the best-selling mid-size car for the past 18 years in a row.
The latest Camry, released late last year, features a bold, sophisticated new design with a more spacious interior, improved driving dynamics and an even quieter ride than the previous generation.
Toyota has previously provided pace vehicles at several other NASCAR tracks, including a Camry Hybrid in 2009.
In 2004, Toyota began participating in NASCAR competition by fielding Tundra trucks in the Camping World Truck Series (NCWTS).
In 2007, Toyota began competing in the NASCAR Sprint Cup Series (NSCS) and the NASCAR Nationwide Series (NNS) with the Camry.
Toyota has won three consecutive manufacturer's titles in the NNS (2008-2010) with the Camry, and Toyota racers have earned one driver's title (Kyle Busch in 2009).
In eight seasons participating in the NCWTS, Toyota has captured five consecutive manufacturer's championships (2006-2010), and Tundra drivers have won driver's titles with Todd Bodine (2006 and 2010) and Johnny Benson (2008).
At Daytona International Speedway, Toyota drivers have recorded eight NASCAR wins across NASCAR's three national touring series, including one NSCS win (Kyle Busch in 2008), two NNS wins (Denny Hamlin in 2008 and Tony Stewart in 2008) and five NCWTS wins.
In 2008, Hamlin claimed Toyota's first-ever NSCS victory in a non-points qualifying event to determine the Daytona 500 starting line-up.