The International Skating Union have announced the 10 nations that will take part in the competition, which starts the day before the opening ceremony on February 6.
Canada, Russia and reigning world team champions USA lead the rankings followed by Japan, Italy, France, China, Germany, Ukraine and Great Britain.
The team event will see competitors from each qualified nation complete a short program with the top five nations, when all scores are added together, moving on to skate a free program to decide the medals.
Team GB have already secured quota places for the ice dance, pairs and women's competitions but will now be eligible to select a men's figure skater, though he will only be able to take part in the team competition and not the individual event, which starts on February 13.
The last British skater to compete in an Olympic men's competition was three-time Olympian Steven Cousins, who finished sixth at the 1998 Games in Nagano.
Matthew Parr, who won the recent British national title in Sheffield, will be the frontrunner for selection, with the team expected to be confirmed early in the New Year.