Athletes were traditionally greeted in front of the Old Palace, and one by one they went out on the balcony.
A music program was prepared for those gathered, and when all the athletes went out on the terrace, the anthem of Serbia was sung.
Serbia won nine medals at the Olympic Games in Tokyo.
The gold medals were won by Milica Mandić, Jovana Preković and water polo players, the silver by Damir Mikec, and the bronze by Tijana Bogdanović, Milenko Sebić, Zurabi Datunašvili, volleyball players and basketball players.
“Dreams come true if you work hard, if you fight and if you believe with all your heart. Thank you very much,” said Jovana Preković in tears, after which the audience chanted her name.
Milica Mandić, who also won a gold medal in London in 2012, was also in tears and thanked everyone in Serbia.
The captain of the golden water polo players, Filip Filipović, thanked for the support and asked the audience to greet everyone on the balcony once again.
The captain of the Serbian volleyball players, Maja Ognjenović, thanked those present for the love they provide.
The representative of the basketball players, Dejan Majstorović, said that he was aware that everyone was disappointed because his team did not win the gold medal, but that in the end everyone was overjoyed because of the bronze medal.
The audience was especially delighted by Zurabi Datunashvili, who said: “Thank you very much, long live Serbia.“
Damir Mikec told the audience: “This medal is also your medal. My heart is beating harder than in the final.“
Serbia took the 28th place on the ranking list of won medals.