The team of doctors chosen to operate on President Reagan yesterday included two cancer specialists, a colon/rectal specialist and the chief of gastroenterology at Bethesda Naval Hospital, where the surgery took place.

The team, headed by Dr. Dale W. Oller, also included Dr. John Hutton, assistant White House physician.

Dr. T. Burton Smith, White House physician, was liaison between the medical team and the presidential staff, White House spokesman Larry Speakes said.

A graduate of Franklin and Marshall College in his native Lancaster, Pa., Oller was commissioned in the Navy in 1964 and graduated from George Washington University Medical School here in 1968.

A Navy captain, he served his internship and residency at Bethesda and remained there to specialize in vascular, or blood vessel, surgery. Later he was at the Navy base at Guantanamo, Cuba, and aboard the aircraft carrier USS Coral Sea, among other assignments.

In July 1984, Oller was named to his present position and assumed additional duty as adviser in general surgery for the head of the Navy Medical Command.

Dr. Lee E. Smith, 47, is a specialist in colon and rectal cancer and other intestinal ailments. He has been an associate professor of surgery at George Washington University Medical School for four years. A native of Ventura, Calif., he is a 1962 graduate of the University of California Medical School at San Francisco.

Formerly a Navy officer, Smith has worked with Oller before, according to university officials.

His wife, Faye, is an emergency room nurse at George Washington University Hospital.

Dr. Steven Rosenberg is chief of the surgery branch of the cancer treatment division of the National Cancer Institute. He is a graduate of Harvard College and received surgical training at Peter Bent Brigham Hospital in Boston.

In addition to his medical degree, he has a doctoral degree in immunology, the study of the immune system.

Dr. Bimal Ghosh, a native of Calcutta, India, has been a cancer specialist at the National Cancer Institute since 1980. He graduated from Calcutta University Medical School in 1961 and received his surgical training at Delhi University.

He was associated with Calcutta National Medical Institute and Maulana Azad Medical College at Delhi University before coming to the United States in 1968. In 1968-69 he was a resident at West Suburban Hospital in Oak Park, Ill. He was a resident and senior resident at Memorial Sloan-Kettering Cancer Center in New York from 1969 through 1972, was an attending surgeon at the University of Illinois Hospital in Chicago from 1972 through 1974, and later became associate chairman of the division of surgical oncology at Cook County Hospital in Chicago.

Dr. Edward Cattau, 35, is chief of gastroenterology at Bethesda Naval Hospital. A native of Niagara Falls, N.Y., he graduated from the University of North Carolina Medical School in 1976 and completed training in gastroenterology at Bethesda in 1981.

Hutton, the assistant White House physician, is an Army colonel.