The planes carrying Australia's Beijing Olympic athletes have touched down in Sydney.

The Qantas charter flights, carrying some 500 Australian competitors and support staff, landed shortly after 6.40am (AEST)on Tuesday.

The medallists arrived on a Qantas 747 while the remainder of the team travelled home on a Qantas A330.

The Olympians will be met at Sydney's International Airport by Prime Minister Kevin Rudd, Federal Opposition Leader Brendan Nelson and Sports Minister Kate Ellis.

Hundreds of family and friends waving Australian flags and carrying flowers, gathered in aircraft hangar 96 at Sydney airport to welcome home the athletes.

Gold medal swimmer Stephanie Rice was the first to emerge from the plane and she was greeted by Mr Rudd.

Rower James Tomkins was next off the plane, followed by swimmers including Libby Trickett.

More than 20 friends and family of 470 sailing gold medallist Nathan Willmot were holding green and gold streamers and dressed in Olympic colours to welcome him home.

"I think he'll be a bit embarrassed to see us all, but he's been the world champion for so long and now finally he's got gold," Nathan's cousin Amy Atkins told AAP.

The athletes are returning with 46 Olympic medals, including 14 gold.

Some of the loudest cheers were reserved for pole vaulter Steve Hooker as the gold medallists made their way down the stairs to the stage, dressed in their Olympic uniforms and wearing their medals.

They were swamped by family and friends, as Australian singer-songwriter Ben Lee's song We're all in this Together played loudly.

Equestrian silver medallist Megan Jones' sister, Emma Spencer-Gardener, said she was extremely proud of her older sister.

"It's a very exciting time and it's her first Olympics, she's been so inspirational."

Asked how she felt to be back on her home soil, Jones told AAP, "It's pretty cool."

Gold medal-winning swimmer Leisel Jones said she wasn't expecting a rock star welcome in Sydney.

"No definitely didn't expect this," she told the Nine Network.

"It is really nice to come home to a nice reception and there's nothing better than coming home..."

She said she was not planning on getting back in the pool any time soon, and would instead put her feet up and have a break from early morning training.

"I'm going to have a really nice long break and decide what I want to do, just do all the things that I haven't been able to do, and then decide when I want to get back in the pool."

Cyclist Anna Meares said it was great feeling to return home a medal-winner.

"I've had a really hard run, but I've had a fantastic time in Beijing and I have a beautiful piece of silver hanging around my neck and now that we've finally touched down in Sydney it's such a great feeling," she told the Nine Network.

Carrying her pillow through the crowd, Liesel Jones said she was extremely tired but thrilled to be back in Australia.

"Swimmers get up really early every day so it'll be really nice to stay in bed as long as I want," she told reporters.

Nathan Willmot said he had flown first class with his fellow gold medallists for the first time in his life.

"Everyone was taking photos of each other on the flight and it was really good fun," he said.

But in his summer Olympic tracksuit he was not prepared for the chilly Sydney temperatures.

When the medallists had all disembarked from the 747, the A330 carrying the other athletes taxied up to the hangar to allow them to disembark.

The official ceremony got underway about 7.45am, with Mr Rudd formally welcoming home the athletes.

"Every man, woman and child in this nation Australia is proud of every one of you, well done," he said.

The prime minister said watching the opening ceremony in Beijing, the proudest moment for him was seeing the Australian athletes march into the stadium.

"To hear the roar of the crowd in China welcoming this great team for Australia says for me one thing - you are great ambassadors for Australia and the nation thanks you."

Dr Nelson said Australia had finished sixth on the medal tally but "first in the inspiration of a nation".

"Right across this country over the last few weeks every one of us in every part of the nation has been inspired by what all of you have done," the opposition leader said.

He paid special praise to three-time swimming gold medallist Stephanie Rice and rowing legend James Tomkins, who he said had won his wife's heart.

"My wife said to tell you that she loves you," Dr Nelson said.

Australian Olympic Committee (AOC) boss thanked the Australian public for their encouragement and support.

"It means a lot, and you can be assured that as one Olympiad ends the planning to win back the ashes in London has already begun," he said.

James Tomkins said the team was "pumped" to be back in Australia.

"The support that we got from Australia was incredible, the messages of support to all the athletes was unbelievable," he said.

"Then to come back here and realise the enormity of the achievement of the team was absolutely phenomenal."

Stephanie Rice said Beijing had exceeded her expectations.

"I never thought I'd come away with what I have but I'm so happy that I did," she said.

She was now looking forward to seeing her mum and having a holiday.