Gold medallists including Jessica Ennis, Sir Chris Hoy and David Weir will soak up the adulation of up to a million fans on the day after the London 2012 Paralympics finished.
The parade, which started at 13:30 UK time, takes the athletes two and a half miles from Guildhall in the City of London to the Queen Victoria Memorial outside Buckingham Palace.
Over 90 per cent of Britain's Olympic and Paralympic medallists are expected to cram on to 21 floats arranged by sport.
The event brings to an end a spectacular summer of sport in the capital, which saw the host nation finish third in both the Olympic and Paralympic medal tables, winning a combined 63 gold medals.
Sunday night saw the conclusion of what has been described as the greatest Paralympics ever.
Coldplay headlined a spectacular closing ceremony that also featured music superstars Jay-Z and Rihanna.
Locog chairman Sebastian Coe said the Games had changed the way people would look at disabled sport forever.
"We've shared some wonderful days haven't we?" Lord Coe said to the packed stadium who gave a roar of approval.
"Days where incredible people have performed feats we hardly thought possible. The Paralympians have lifted the cloud of limitation."
The Paralympics sold 2.7 million tickets in total, almost 900,000 more tickets than Beijing four years ago and the unprecedented sales brought in nearly £45 million, exceeding organisers' original target of £35m.
The ramped-up coverage and interest was felt everywhere, Alan Oliveira's shock defeat of Oscar Pistorius in the 200 metres final even "knocked out" all the football coverage in Brazil, said International Paralympic Committee chief executive Xavi Gonzalez.
Pistorius said after his 400 metres win on Saturday that the Olympics and Paralympics in London had been "the biggest highlight" of his life.
IPC president Philip Craven could barely believe the amount of coverage.
"I'm floating on cloud nine, sometimes cloud 10 or 11," he said. "When you get everything in alignment you get a damn big bang and that's what we've had here," he said.