An open-top bus parade set off from the club's Emirates Stadium at noon
The victory secured the Gunners' first trophy in nine years and was the 11th time the club had won the competition.
Arsenal, who started the final as favourites, came from two goals down against Hull to win 3-2 in Saturday's match.
Manager Arsene Wenger joined the players on the open-top bus as it travelled to Islington Town Hall
Fans of all ages lined the streets to catch a glimpse of their heroes. Mayor of Islington Barry Edwards who was at the parade, said: "My council career ends on Thursday at the elections, so I am really delighted that today as one of my last acts as mayor I may be able to invite the Arsenal in for a cup of tea.
Adding his family had been fans for three generations, he said: "It's all granddad's fault, if he hadn't gone to watch them in 1913 I might have had a nice quiet Saturday evening."
The two open top-top buses returned to the Emirates after the victory parade, where players greeted more fans.
It's been a double celbration for Gunners fans as Wenger earlier confirmed he would sign a new contract with the club - ending any specualtion the Frenchman might leave in the summer.