Batsman Martin Guptill, the tournament's top-scoring batsman, said he was grateful for the support the team received on their "incredible" journey to the final.
"Thank you to everyone who has been in behind us throughout this tournament. It's been an amazing journey with a great group of guys," he tweeted last night. "Everyone appreciates all your support."
Guptill hit the highest World Cup score for any player - 237 not out - against the West Indies in the Wellington quarter-final.
Yesterday, Grant Elliott, New Zealand's star batsman in the semifinal and the final, said it was "deflating" to come second. But he was proud of the way the Black Caps played throughout the cup.
"You don't celebrate coming second but we can celebrate the fact we've held our heads high and we've played the game in a fantastic spirit, led by Brendon," he told Campbell Live, referring to skipper Brendon McCullum.
"It's been an amazing journey."
McCullum, who electrified crowds and terrified opponents with lightning-fast, big-hitting innings, was gracious in defeat, saying Australia were the better team on Sunday at the Melbourne Cricket Ground.
"Sometimes you've got to doff your cap to the winner," he said.
He was proud of the flair and fire with which the Black Caps played, even though their game plan fizzled in Melbourne. "We're about making sure we go out there and play an aggressive and positive brand of cricket."
He also took pride in the team's improvement and was grateful for "tremendous support" from the New Zealand public. "This is something we'll never, ever forget."
A presentation at The Cloud will start at 6.30pm but the waterfront venue will open to the public for the free event from 4pm.
Fans will be able to cheer the cricketers but event organiser Ateed expected the Black Caps to thank the public for their support.
A screen outside Shed 10 will broadcast the welcome. No roads will be closed and public transport schedules will be normal. MetService forecast fine weather for Auckland today.
The Black Caps' return
• 1.45pm: Team due to touch down at Auckland Airport's international terminal on flight EK406. The Black Caps' management have encouraged fans to turn up and show their support.
• 4pm: Fans can start gathering at Auckland's Queens Wharf, where a public "welcome home" event will be held.
• 6pm: The Black Caps arrive at Queens Wharf before moving inside The Cloud.
• 6.30pm: The Blacks Caps will make an appearance for an on-stage presentation, which will also be shown on a screen outside Shed 10. Speakers are yet to be confirmed, but organisers say the team will address the crowd.
• 7pm: The welcome event wraps up.
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