The 33 year-old freestyle skier will lead out the Australian contingent to mark the end of Australia's most successful winter Games campaign with four medals.
Sami says it's a rare privilege to carry the Flag.
"What an honour. When Geoff told me I was a bit stunned. But what a way to wrap up my third Games. While I did come here to better my last performance, it's another top ten performance at an Olympic Games and I am very proud of that.
"When you think about the history that this Team has created, it adds to the magic of these Games to be asked to lead our Team.
Australian Olympic Team Chef de Mission Geoff Lipshut says it was a great pleasure to break the news to Sami.
"Sami really deserves this honour. Her commitment and professionalism goes to the heart of what this Team has been about.
"She's had a wonderful career, reaching top five on World Cup tour events since making her debut in 2008 with a highest world ranking of 11th in 2011-12.
"In choosing Sami, I thought about her whole career. She struggled in her first Games in Sochi – she was extremely nervous, but then having two eighth placings in her next two Olympic Games.
"She has been the standard bearer for her sport – and keeping her sport going in our country. She has been putting herself out there and training really hard, travelling to all the events and being credible in what is a very tough sport.
"Sami has really made her career the most of what it could be. And tonight, she will proudly lead Australia as these very successful Games draw to a close," Mr Lipshut concluded.