SM H->gamma gamma discovery potential with ATLAS

These proceedings summarize the discovery potential of the Standard Model Higgs Boson using the H->gammagamma decay with the ATLAS detector. The relevant detector performance aspects of photon reconstruction, photon identification and trigger issues are discussed. The potential of inclusive H->gammagamma as well as Higgs boson searches in association with one or two hard jets are studied. The associated production processes WH, ZH and ttH are also discussed. The discovery potential is finally assessed using an unbinned multivariate maximum-likelihood fit with an expected integrated luminosity of ~10^{33} cm^{-2}$.