The 29-year-old from Hyderabad won the men's 10m Air Rifle bronze at the Royal Artillery Barracks here on Monday afternoon.
For Narang, it was a case of third time lucky as he had two failed attempts in Olympics. He had to return empty-handed in Athens 2004 and Beijing 2008.
He was the first Indian to qualify for London Olympics.
Narang had won gold medals in Commonwealth Games and ISSF World Cups. He had also won a silver at Guangzhou Asian Games in 2010.
He was conferred with the highest sporting honour in India, Rajiv Gandhi Khel Ratna award in 2010.
Narang, disappointed after being ignored for the award, had thought of pulling out of Delhi Commonwealth Games in 2010.
He has twice set world records in shooting. First in 2008 in Bangkok and then in New Delhi in 2010.
Facts on Gagan Narang
Born: 6 May, 1983
London Olympics bronze medallist
Achievements: Bronze medal, London Olympics, 8 gold medals in Commonwealth Games (4 at Delhi Games 2010); 2 ISSF World Cup golds (2006, 2009); ISSF World Cup Final gold (Bangkok 2008); Silver medal at Guangzhou Asian Games 2010; Gold medal at Afro Asian Games, 2003; Gold in Asian Championship 2009
Awards: Rajiv Gandhi Khel Ratna, Padma Shri, Arjuna Award
Previous Olympics performances: 9th: 10m Air Rifle, 2008 Beijing, 12th: 10m Air Rifle 2004 Athens, 13th: 50m Rifle 3 Positions 2008 Beijing, 35th: 50m Rifle Prone, 2008 Beijing
Supported by Olympic Gold Quest, started by Geet Sethi and Prakash Padukone.