The designated "Home Team" alternates between the AFC team in even-numbered games and the NFC team in odd-numbered games. This year being Super Bowl 45 (Feb. 6, 2011 in Dallas, TX), the home team is the NFC representative.
The Green Bay Packers are the designated home team.
The NFC
Green and Gold (Packers are home team).
The Green Bay Packers of the National Football Conference will be considered the home team for Super Bowl XLV. In 2012, the American Football Conference champion will be the home team.
The Atlanta Falcons were the home team for Super Bowl XLI.
No team has ever played a home field super bowl.
So far, no team has played on its home field in a Super Bowl.
The Indianapolis Colts are considered the "Home Team" for Super Bowl XLIV.
49ers
The home team designation for the Super Bowl alternates each year. As a result, the representative of the National Football Conference -- the San Francisco 49ers -- will serve as the home team for Super Bowl XLVII in New Orleans.
The team who last won the super bowl would be the new york giants in the year 2011.
Technically one team is designated the home team for the game, but I think you mean if a team can play in its own stadium for the Super Bowl. The answer is yes, the team from the host city must make it through the playoffs to the Super Bowl.