BBC One will broadcast coverage live on 17 October from 4.15pm until 6.30pm with a thirty minute highlights show from 8.30pm that evening.
Gabby Logan will present the celebration which will cover the entire 2.5km route in Manchester followed by an hour long show in Albert Square.
Guests in the studio will include Sir Chris Hoy, Rebecca Adlington and Steve Brown with Ore Oduba and Sir Matthew Pinsent CBE interviewing the athletes live on the buses during the parade.
The BBC Director of Content Charlotte Moore says: “BBC One is proud to broadcast the Team GB Olympians and Paralympians Victory Parade. All of our athletes inspired the nation with their incredible record medal haul and that deserves celebrating.”