Crowds turned out in large numbers to see the Olympic star, as Launceston City mayor Albert van Zetten handed her the key as part of the official ceremony held at Civic Square.

She was joined by family and friends as she was awarded the prestigious honour. Walking out for the crowd which included students from Sacred Heart Primary and St Patrick's College, Titmus said she felt nervous.

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"When I was waiting before the walk in I actually felt like I was going out for a race. I had butterflies and I don't know why. I was very excited, it's been a very busy week and it's nice to end on this note. When I was standing up and speaking I was getting quite emotional. I think it was a really great day,"

The councillors voted unanimously for Titmus to receive the honour, after her gold medal haul at the Tokyo Olympics.

Mayor Albert van Zetten said it was a privilege to present the swimming champion with the key.

"I don't think there's any doubt that Ariarne is an incredible role model for all aspiring young Tasmanian athletes. She's not only an incredible swimmer, but a genuinely humble champion that all young people can look up to and admire," he said.

Titmus is the first female to receive the honour and at 21 years old she is also the youngest.

"I know Olympic gold medals are very rare to win, but also the sixth person and first female to get the key to Launceston, I feel like it's such an honour. In the history of the city, to have this honour today I am very humble and I really enjoyed it."

It was the last stop on her jam packed tour back home, after spending the week at several different events around the city to celebrate her success and inspire future homegrown stars.

The young start has plans to relax now after her booked week with events and appearances.

"I'm going to go away for the weekend and just relax and have no commitments planned so I'm looking forward to doing nothing essentially, I'm pretty tired. Then I will fly back to Brisbane on Sunday."

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As well as receiving the key Titmus will be honoured with having the 50m competition pool named after her, as well as the establishment of an annual Ariarne Titmus Swimming Scholarship at the Launceston Aquatic Centre.

Titmus returned to her hometown and went back to the places she once frequented, her old primary school Sacred Heart and was celebrated with a marching band entrance and assembly in her honour at her old high school St Patrick's College. She also hosted a swimming clinic for future swim stars at the Aquatic Centre on Tuesday.

After she returns back to Brisbane its full steam ahead as she prepares for the next events in her sporting calendar.

"I have two weeks left out of the water, then it will be back into the water. I have the world championships and commonwealth games next year so that will be a really busy year. The following year will be worlds again and then the Olympics, so I have to be ready when I go back to make swimming my priority," she said.

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