The parade, which celebrated the Villanova Wildcats' historic NCAA Championship victory and drew thousands of fans from across the region, stepped off from 20th and Market streets in Center City at 1 p.m.
PHOTOS: The Villanova Championship Victory Parade
The men's basketball team and coaching staff, as well as Villanova University's cheerleaders and band, all took part.
The procession also included the Cardinal O'Hara High School marching band, and members of the 1985 National Champion Wildcat team.
The stars of the parade, though, were the 2016 champs, who rode atop a double-decker bus and took turns hoisting the NCAA trophy over their heads.
VIDEO: Wildcats make their way down Market St.
The parade headed east toward Philadelphia City Hall, where a huge crowd gathered for a victory rally at Dilworth Park.
Large crowds began gathering Friday morning, and also along the Market Street parade route.
VIDEO: Fans of all ages celebrating at the parade
Those crowds included fans of all ages, and from all walks of life.
They also included the parents of the championship game's MVP, Ryan Arcidiacono. Joe and Patti Arcidiacono talked to Action News about how proud they are of their son and their Villanova roots.
VIDEO: Arcidiacono family talk about Villanova roots
At the rally, the crowd heard from Philadelphia Mayor Jim Kenney, Pennsylvania Lt. Gov. Mike Stack, who is Villanova alumnus, and Villanova's president, Father Peter Donohue.
VIDEO: Father Donohue thanks Nova Nation
Then the 2016 team arrived, each introduced individually by Assistant Head Coach Baker Dunleavy.
VIDEO: 2016 Villanova Wildcats introduced at rally
And those in attendance got a chance to hear from Wright, who led the crowd in a rousing response chant of "Nova... Nation!" then thanked the players, their parents and their fans for an historic season.
VIDEO: Coach Jay Wright leads Philly in 'Nova Nation chant
Wright then introduced several players, including Arcidiacono, Daniel Ochefu and Kris Jenkins, who addressed the crowd of thousands.
The rally concluded with a video showing the dramatic, buzzer-beating winning basket from Monday's championship game against North Carolina - and a loud cheer, accompanied by streamers and confetti, from the crowd.
VIDEO: Ryan Arcidiacono talks to Nova Nation
VIDEO: Kris Jenkins speaks at the Villanova Victory Parade
VIDEO: Daniel Ochefu speaks at the Villanova Victory Parade