The event will start at the corner of Albert St and Customs St West and will go along Customs St West and up Queen St, ending at the corner of Wellesley St and Mayoral Drive.
Auckland Mayor Len Brown will congratulate the team before the ceremony ends about 3.30pm.
Customs St West, Queen St, Wellesley St and other city centre streets will be closed to traffic, and city streets are expected to be busy.
Aucklanders will not be the only ones celebrating.
Festivals will also be held on Waiheke Island and in Whangarei.
An All Blacks victory parade was set to be held in Christchurch tomorrow.
A Council spokesman said the parade would head up Rolleston Avenue and Park Terrace into the Hagley Park fanzone - though a start time had not yet been confirmed.
Wellington would be next to host a parade on Wednesday, Newstalk ZB reported.
And from 12 noon until 6pm, the Kiwi Day Out will be held at the Auckland Domain, where Dave Dobbyn, Evermore and Stan Walker will headline the free family event.
The festival has been planned as a laid-back celebration of the Rugby World Cup itself - the thrills and spills, the blood, sweat and tears, the groin injuries, the haka and the outstanding efforts of the men in black and the men wearing every other jersey.
Television personality Jason Gunn will be the host for the afternoon alongside Ben Humphrey.
The Real New Zealand Thank You will start the programme, celebrating the 20 nations New Zealand has hosted with marquees for each country showcasing its cultural delicacies, crafts, costumes and performances.
The second half of the festival, running from 3pm, will be dominated by sounds from the New Zealand and Australian music scene.
Fonterra, celebrating its 10th birthday, is the main sponsor for this half of the festival.
Free icecreams will be handed out and a games zone will be running.
SMC events chief executive Dave Mee said the festival was about being good hosts.
"The whole concept was around being good hosts during and following the World Cup.
"Basically, we're thanking people for their support of the cup and of New Zealand."
Organisers were prepared to accommodate up to 100,000 people, including the World Cup rugby teams, he said.
"It would be great if both teams from the final come.
"We've definitely told them about it."
The weather forecast is for nothing but sun today.
