Victorians are being encouraged to welcome home the nation's Olympians at Federation Square today.
Gold medal winners Sally Pearson, Anna Meares, Cate Campbell and the men's K-4 flatwater canoeing team will take part in the ceremony.
Victorian athletes Drew Ginn, Kim Crow and Jared Tallent will be among more than 80 Olympians at the event.
Victorian Sports Minister Hugh Delahunty says it is an opportunity for young people to meet their heroes.
"I'm sure we'll give them a true Melburnian sporting capital welcome," he said.
"It's a fantastic opportunity for a lot of Victorians, particularly our young Victorians, to rub shoulders with our Olympians and celebrate their incredible achievements over in London."
Yesterday the gold medallists were honoured on a special set of postage stamps.
The stamps feature them standing on the podium as they received their medals.
Thousands of fans lined Sydney's main street on Monday to welcome home more than 100 of the Olympic athletes.