London will become the Paralympic host city as the flame of the Beijing Games is extinguished on Wednesday.
International Paralympic Committee chief Philip Craven hailed Beijing 2008 as "the greatest Games ever".
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London 2012's double decker bus is set to make another appearance, as British organisers promise "youth and zest" for London's second handover.
Once again, the Beijing organisers offered a ceremony packed with light, sound and choreography, lapped up by a capacity Bird's Nest audience.
Thousands of petals fell from the sky on a still, clear evening in Beijing, producing a feast of colour.
Craven paid tribute to "the best ever Paralympic villages, a never-ending and self-generating supply of passion and emotion, superb organisation and wonderful volunteers" in his speech.
He hailed "millions of new Paralympic sports aficionados both here in China and around the world".
Twenty-five students from the Harrow International School in Beijing sang the British national anthem to launch London's Paralympic handover ceremony.
London Mayor Boris Johnson is set to receive the Paralympic flag shortly.
Johnson earlier said he was "lost in admiration and awe for the achievements of the British team".
"They have delivered for us - now we must deliver for them, and for all disabled Londoners and visitors," he added.
"Beijing gives us a superb challenge and a fantastic platform to go forward. We will work to make sure London is the most accessible Games ever."
The British team are expected to arrive back at Heathrow Airport on Thursday.
Celebrations are taking place in Britain to mark the handover, with Stoke Mandeville hospital - which hosted the first Games for wheelchair-bound athletes 60 years ago - open for students to attend a special ceremony.
Up to 5,000 schools around the UK are holding similar celebrations, with some hosting Paralympic sports days.
The ParalympicsGB team hit their medal table target in Beijing, winning 42 golds to finish second behind China.
Britain won 102 medals overall, nowhere near China's 87 golds and total of 207, but ahead of the US, Ukraine and Australia.
Cyclist Darren Kenny takes home four gold medals and a silver, while swimmer Dave Roberts also won four golds, taking him to a career total of 11 Paralympic medals.
Lee Pearson won three equestrian golds, and GB's youngest team member, 13-year-old swimmer Eleanor Simmonds, claimed an astonishing two gold medals to become Britain's youngest ever individual champion.
"I think by anyone's standards our performance has been impressive," said British Paralympics chief Phil Lane.
"Athletes such as David Roberts, Darren Kenny and Lee Pearson have reproduced their performances from Athens which is exceptional," he added.
"A dozen others have won two golds, and for a 13-year-old to win two golds is fabulous."
Britain's medal haul eclipses the team's Athens performance, where GB claimed 35 golds and 94 medals in total.
A total of 80 British athletes return home as Paralympic medallists, though just one athlete - wheelchair racer Dave Weir - managed to win gold on the track.
Weir's hopes of five Paralympic golds were hit by a virus early in the Games, but he won his T54 800m and 1500m events.
"Dave came through in the end and he should be happy with his Games," former wheelchair racing star Tanni Grey Thompson wrote on her BBC Sport blog.
"But British athletes here have found out on the biggest stage how the world is moving on, and when they go home they need to decide whether they are going to try to aim higher, or leave it to others to take on that mantle."
The Paralympic bar was set by Canadian wheelchair racer Chantal Petitclerc, South Africa's Olympic swimmer Natalie du Toit and Australian swimmer Matthew Cowdrey, all of whom won five golds.
South Africa's Oscar Pistorius, dubbed "Blade Runner" for his sprinting performances on modified carbon fibre blades, completed a track treble on Wednesday with 400m gold, following wins in the 100m and 200m.
Huge crowds have turned out to watch most Paralympic events, particularly the athletics and swimming, and International Paralympic Committee president Philip Craven praised Beijing's organisers.
"These Games have been great Games. I think everybody realises that," he said.
(BBC)
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