The Glasgow swimmer produced a remarkable last 50m to finish second in 2mins07.28secs, behind Hungary’s Daniel Gyurta, who broke the world record with 2mins07.43secs.
“I had a little more to give after last night,” said Jamieson afterwards. “It’s so much easier to swim with a bit of confidence behind you.
“I was desperate to get on the podium tonight to repay the faith and support we’ve had. I forgot about the time tonight – it was more tactical.
“I tried to stay on Gyurta’s shoulder for the first hundred. I wanted to have everything on the line.
“I had planned for this night and that helped with the nerves beforehand. For so many years I have gone over this in my head.”
Team GB’s other medal hopeful Andrew Willis finished in eighth place.
“That was tough race and I gave it my all,” said Willis. “I’m very happy for Michael – he deserves it 100 per cent. It was great for me to experience as well.”
Elsewhere, Great Britain’s Fran Halsall qualified joint-fourth for Thursday’s 100m freestyle final with a time of 53.77secs. Russia’s Ranomi Kromowidjojo qualified first in 53.05secs.
“Tomorrow it will take a 52 to win it,” she said. “I felt awful this morning but tonight felt really smooth and easy and I cruised the last 10m.
“Anything can happen in an Olympic final and I’m in it to win it. The crowd were amazing, but it was just as amazing for Missy Franklin. Any Brits that come tomorrow, I want you to shout louder than the Americans did!”
© Sportsbeat 2012
MORE: The latest football news
MORE: The latest tennis news
BIOGRAPHY: Victor Moses
BIOGRAPHY: Luke Shaw