Fans are being invited to watch the ceremony on the steps of the Senedd to add their own tributes to the squad which has delivered the third Grand Slam for Wales in eight years.
The event is being supported by the Welsh Rugby Union as an opportunity for the squad to show their gratitude to the supporters who have inspired them to victory in all their RBS 6 Nations 2012 games.
The event will start at 6pm on Monday March 19 when the squad arrives at the Senedd to be greeted at a private reception hosted by the First Minister and the Presiding Officer.
The event will take place against a backdrop of music and conversation as the tone is set for a presentation ceremony on the Senedd steps.
Wales Captain Sam Warburton and Head Coach Warren Gatland will then lead the squad, coaches and backroom team onto the steps to greet the fans.
Children from local schools will hand the Grand Slam trophy to First Minister, Carwyn Jones, for him to formally represent to the Wales squad.
That moment will be the signal for the crowd to show their appreciation of how the team has beaten all their international opposition to claim the ultimate international prize in the northern hemisphere.
The First Minister of Wales, Carwyn Jones said:
"This victory is a fantastic reflection of the talent, grit and determination our team has displayed throughout the tournament. I want to congratulate them on making the nation proud and taking our Grand Slam tally to three in the last eight years.
"On Monday we will welcome the team to the steps of the Senedd so the people of Wales can come together to celebrate this remarkable sporting achievement."
The Group Chief Executive of the Welsh Rugby Union, Roger Lewis, said:
“This squad has written an important new chapter in Welsh rugby history which deserves to be properly recognised and honoured.
“They have won the tournament by playing a brand of engaging and compelling rugby which has thrilled followers of the game around the world.
“I am delighted the Welsh Government has decided to host this event to show how much the people of Wales appreciate this achievement.
“I know just how hard this squad has worked to win the Grand Slam and they fully deserve to be honoured in this way.
“I also want to extend my gratitude to Cardiff council for supporting this event which also allows the squad to show their appreciation of the support they have enjoyed from the fans.”
Members of the public are advised to arrive early to ensure getting in position to see the team receive the trophy.