Tens of thousands of fans turned out for a parade on Woodward Avenue.
The team's players and staff rode in the beds of pickup trucks along the parade route.
"Coming down Woodward ... I heard a lot of 'Thank You's' from a lot of people," Red Wings star Nicklas Lidstrom said. "But (we) would like to thank you, the fans."
The team captured its fourth cup in 11 seasons Tuesday, beating the Pittburgh Penguins 3-2 in Game 6 of the playoffs.
Overall, the Wings have won the cup 11 times.
"I believe we've been the best team in hockey (in recent years)," Coach Mike Babcock told ESPN in an interview at Hart Plaza on the city's riverfront.
"We've won 162 games in three regular seasons, we've got great young players, great fans and the best ownership. If you're a player, why wouldn't you want to come here?"
Only the Montreal Canadiens (23) and Toronto Maple Leafs (13) have won more NHL championships.