Rohit Sharma and Co, who are scheduled to leave the city in batches in the afternoon, will head to their home venue along with their team mentor Sachin Tendulkar and owner Nita Ambani and the celebrations will begin at 8pm.
"Mumbai Indians want all its fans who have supported the team to converge at Wankhede from 7pm onwards. It will be a celebration like never before," a team official told PTI.
The entry to the stadium would be free and will be on a first-come-first-in basis.
This would be the first opportunity for the fans as the last time in 2013, the celebrations were limited as the team owners were out of country.
Two-time champions KKR celebrated big when they won their two titles in 2012 and 2014 with team owner and Bollywood heartthrob Shah Rukh Khan leading with dancing and singing.
Meanwhile the party after winning their second crown in two years at the Eden Gardens, where they had won their maiden title in 2013, continued till the wee hours.
"We just started our celebrations, it's not over yet. Once we go back there will be more. We sang team anthem, and celebrated for our every win," skipper Rohit Sharma after their 41-run thrashing of Chennai Super Kings in the final yesterday.
Amid showering of confetti, and colourful fireworks over the Eden sky adjacent to the river Hooghly, the Mumbai Indians huddled and danced together celebrating their IPL trophy triumph.
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