The President of the International Olympic Committee (IOC), Jacques Rogge, declared the Games of the 30th Olympiad closed just before midnight: 'We will never forget the smiles, the kindness and the support of the wonderful volunteers, the much-needed heroes of these Games.
He also thanked the public for their enthusiastic support. 'You, the spectators and the public, provided the soundtrack for these Games. Your enthusiastic cheers energised its competitors and brought a festive spirit to every Olympic venue.'
London 2012 Chair Seb Coe thanked the hundreds of thousands of people who helped to make the last 16 days a success during the stunning ceremonial finale to the Olympic Games.
He said: 'The British people got behind London's bid and they got behind London's Games. Our Opening Ceremony proclaimed that these would be a Games for everyone. At our Closing Ceremony, we can say that these were a Games by everyone.'
In addition to thanking those who built the venues and helped organise the Games, Seb Coe played tribute to the athletes for their outstanding performances. 'To all the Olympians who came to London to compete - thank you. Those of us who came to watch witnessed moments of heroism and heartbreak that will live long in the memory. You have our admiration and our congratulations.'
He added: 'On the first day of these Games I said we were determined to do it right. I said that these Games would see the best of us.
'On this last day I can conclude with these words: When our time came - Britain, we did it right. Thank you!'
The grand finale of the Games saw the Olympic Flame extinguished in a spectacular sequence.
Each participating team will receive one of the Olympic Cauldron's petals to take home with them.
The spectacular ceremony also looked forward to the next summer Olympic Games in 2016, as the Olympic Flag was handed over to the Mayor of Rio de Janeiro, Eduardo Paes.
Her Majesty The Queen sent her own special message of congratulations after the event. 'The outstanding performance of Team GB, in achieving the greatest Olympic success since 1908, will, I am sure, have inspired a new generation of Olympians and reminded us all how sport unifies communities and nations.
'I congratulate, too, the organisers of the Games, as well as the thousands of volunteers who have epitomised the Olympic spirit through the warm welcome they have shown to the sporting teams and spectators from all around the world.'