Olympic champions Mo Farah, Jessica Ennis and Sir Chris Hoy will be among 700 British athletes taking part in a victory parade to mark their incredible achievements at London 2012.

Britain's stars of the Olympic and Paralympic Games will travel through the capital on Monday to celebrate the huge medal hauls of both teams.

Team GB finished third in the medal table with 29 golds, 17 silvers and 19 bronzes, while the Paralympic team currently lies second having easily surpassed a pre-Games target of 103 medals.

The Greatest Team Parade will see athletes travel on 21 open-top floats, grouped in alphabetical order by their sport. The parade, which has been organised by the mayor in conjunction with the British Olympic Association and the British Paralympic Association, will include more than 90% of Britain's medal winners.

The first float will include Farah, the Olympic 5,000m and 10,000m winner, followed by heptathlon gold medallist Ennis, with long jump champion Greg Rutherford in the third float.

Team GB's cycling stars Sir Chris Hoy, Jason Kenny, Laura Trott and Victoria Pendleton will be in float seven, followed by double equestrian gold medal-winner Charlotte Dujardin, rowing champion Katherine Grainger, Ben Ainslie, Britain's most successful Olympic sailor, and triathlon gold medallist Alistair Brownlee.

Paralympians Hannah Cockcroft, Jody Cundy, Sophie Christiansen and Jonnie Peacock will have little time to recover from Sunday's closing ceremony when they take part in the parade the following day.

British Airways will lead a flypast with the Red Arrows during the event after receiving special permission to fly over The Mall. The flame-coloured Firefly A319 aircraft, which was used to bring the Olympic Flame to the UK at the start of the Games, will display a special thank you message on its underbelly. During its 20-minute journey, it will pass over the Olympic Park at 3.40pm before reaching The Mall a minute later.

London mayor Boris Johnson said: "This summer our great city has hosted an unbelievable spectacle of sport and thousands will want to celebrate the achievements of our athletes by coming to the parade.

"It promises to be an incredible afternoon but I do want to remind people coming that we expect the route to be extremely busy and planning ahead is absolutely crucial if they are going to be able to make the most of their day. Everyone coming should take the time to check on their public transport arrangements and make sure they leave plenty of time to find a good spot. But don't forget that there will be continuous television coverage on the main channels that will offer the very best views of the action."