The 38-year-old Grangemockler native, who's based in Devon in England, has been selected on the Irish eventing team to travel to Brazil.
Clare Abbott, Jonty Evans and Mark Kyle are the other members of the squad chosen by manager Nick Turner.
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McCarthy is the second native of the Premier County to get good news this week.
Thurles man Greg Broderick was told yesterday that he'd be representing Ireland in showjumping at the Olympics.