Over a period of 288 days, the baton will visit 70 countries covering over 190,000 kilometres, officials said.
The baton which was received by Sri Lankan Olympic Committee officials at the Colombo international airport was carried to the independence square by former Sri Lankan hurdler Sriyani Kulawansa in a marathon.
It was later taken to the British High Commissioner's residence for an evening reception.
Tomorrow morning, the baton will be taken to the hill capital of Kandy by train.
The baton leaves Colombo on Monday heading for the Maldivian capital, Male.