Team GB was unofficially set a target of between 45 and 70 medals by UK Sport, although the funding body's chief executive Sally Munday said it was taking a more "holistic" approach given the lack of competition for athletes during the Covid-19 pandemic.
Britain finished Tokyo 2020 with 65 medals, equalling their total as hosts in London nine years ago and making Tokyo their second-most successful overseas Olympics after Rio 2016.
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Team GB chef de mission Mark England called the medal haul as "the greatest achievement in British Olympic history".
He said: "Not only has the team made history but it has probably made history on the back of the most complex and most challenging and difficult environment that we will face certainly in my lifetime.
"It has been against all the odds and I think it is the greatest achievement in British Olympic history. It has been the miracle of Tokyo and it has been wonderful to be here."
Here we take a look at how each sport fared in Tokyo relative to its funding.
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- Tokyo 2020 medal table
Funding amount: £1,122,879
Team GB have not won an Olympic medal in archery since 2004, and that run continued at Tokyo 2020.
Archery was one of several sports to lose its funding after the Rio Games five years ago, before UK Sport U-turned in 2018 and decided to reinstate financial support.
It has had its funding hugely increased for the Paris 2024 Olympic cycle, however, to more than £2.1m.
Funding amount: £23,007,531
Medals: 6 (3 silver, 3 bronze)
Athletics funding was cut from £26,824,206 after the 2016 Games, at which GB won two golds, one silver and four bronzes.
Keely Hodgkinson and Laura Muir both broke British records as they claimed silver in the women's 800m and 1500m respectively, while the quartet of CJ Ujah, Nethaneel Mitchell-Blake, Richard Kilty and Zharnel Hughes missed out on the 4x100m title by just a hundredth of a second.
There were bronze medals for Josh Kerr in the men's 1500m, Holly Bradshaw in the women's pole vault, and in the women's 4x100m for Asha Philip, Imani-Lara Lansiquot, Dina Asher-Smith and Daryll Neita.
The funding is set to be cut again, with the athletics squad receiving £22,175,520 for the next Olympic cycle.
Funding amount: £946,779
Team GB's badminton squad were unable to bring home any medals from Tokyo, capping a difficult five years for the sport since Chris Langridge and Marcus Ellis' men's doubles bronze at Rio 2016.
Badminton lost all its UK Sport funding after Rio despite that medal, before a 2018 reprieve. Its funding for the Paris 2024 cycle has been massively increased to £3.2m.
A seven-strong squad competed in Tokyo, with Ellis and Lauren Smith reaching the quarter-finals of the mixed doubles and Toby Penty making the last 16 of the men's singles, showing promise for Paris in three years' time.
Funding amount: £12,084,436
Medals: 6 (2 gold, 2 silver, 2 bronze)
Tokyo 2020 is Britain's most successful Olympics in the boxing ring since 1920, with six medals.
Lauren Price won middleweight gold, a day after Galal Yafai became Olympic flyweight champion. There were silver medals for Ben Whittaker (light-heavyweight) and Pat McCormack (welterweight), while Karriss Artingstall (featherweight) and team captain Frazer Clarke (super-heavyweight) claimed bronzes.
The team doubled their medal total from Rio, despite a funding cut of £1,680,001.
It is set to lose a further £688,929 before Paris.
Canoeing (sprint and slalom)
Funding amount: £16,344,693
Medals: 2 (1 silver, 1 bronze)
Liam Heath became Britain's most successful Olympic canoeist with K1 200m bronze - his fourth Olympic medal - while Mallory Franklin won women's canoe slalom silver.
The total of two medals was half what the sport won at the London and Rio Games, and the fewest medals won since the Sydney 2000 Olympics.
Canoeing faces a huge funding cut for the Paris 2024 cycle, however, from £16.3m to £12.2m - more than 25%.
Cycling (track, road, BMX and mountain bike)
Funding amount: £24,559,306
Medals: 12 (6 gold, 4 silver, 2 bronze)
Team GB's cycling team had their funding cut by a huge £5,708,510 before Tokyo, but still won an impressive 12 medals across track cycling, mountain biking and BMX.
Tom Pidcock kicked things off with mountain bike cross-country gold, before Bethany Shriever won gold in the women's BMX racing final, moments after team-mate Kye Whyte claimed the nation's first Olympic medal in the event with silver in the men's.
There was another gold for Charlotte Worthington in the BMX freestyle, where team-mate Declan Brooks took bronze in the men's event.
In the velodrome, Great Britain won seven medals - more than any other nation in Tokyo.
Jason Kenny won his seventh Olympic gold with a spectacular defence of his men's keirin title. Two days earlier, his wife Laura became the first British woman to win gold at three Olympic Games, winning the madison alongside Katie Archibald.
It was an Olympic debut to remember for Matt Walls, who was crowned champion with a dominant performance in the omnium.
There were silvers for GB in the men's team sprint, the men's madison and the women's team pursuit, while Jack Carlin won an impressive bronze medal in the men's individual sprint.
Cycling will receive £3,042,378 more in funding for Paris 2024.
Funding amount: £7,223,280
Medals: 3 (1 gold, 2 bronze)
Team GB had their diving funding cut from £7,467,860 to £7,223,280 for Tokyo, but won the same number of medals as five years ago.
After winning one gold, one silver and one bronze in Rio, GB won a gold and two bronzes in Japan.
Tom Daley ended his long wait for an Olympic title with a sublime display alongside Matty Lee in the men's synchronised 10m then went on to win bronze in the individual event.
There was another medal on the men's 3m springboard, where Jack Laugher won bronze.
Diving will receive £8,463,542 for Paris.
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Funding amount: £12,541,195
Medals: 5 (2 gold, 1 silver, 2 bronze)
Equestrian lost £5,451,405 in funding before Tokyo 2020, but the team delivered more medals than they did in Rio five years ago.
Ben Maher won individual showjumping gold on Explosion W, after Oliver Townend, Laura Collett and Tom McEwen won team eventing gold.
McEwen also won a silver in the individual event, and Charlotte Dujardin won her sixth Olympic medal with dressage bronze.
A day earlier, Dujardin claimed bronze in the team dressage event alongside Carl Hester and Charlotte Fry.
The equestrian team's funding will be reduced again for Paris, to £11,085,964.
Gymnastics (artistic and trampoline)
Funding amount: £13,408,688
Medals: 3 (1 gold, 2 bronze)
Team GB won seven gymnastics medals in Rio five years ago, but with a vastly different squad brought home only three from Tokyo.
Max Whitlock and Bryony Page - the only members of the squad to compete in both Rio and Tokyo - were among the medals, Whitlock retaining his pommel horse title and Page winning bronze on the trampoline to add to the bronze the women's artistic gymnasts won in the team all-around competition.
That bronze was GB's first medal in the women's team event for 93 years, while Whitlock's gold saw him become the most successful gymnast of all time on the pommel horse.
Gymnastics will receive slightly less - £12.5m - for the Paris 2024 cycle.
Funding amount: £12,905,612
Medals: 1 (bronze)
Great Britain's women's hockey team entered the Tokyo Games as defending Olympic champions, but the five years since Rio have been difficult with captain Hollie Pearne-Webb saying it had been far from a rollercoaster because "there haven't been too many highs".
Just seven of the gold medal-winning squad from Rio competed in Tokyo, but they were able to put the difficulties of the last cycle behind them to win bronze - marking it the third Olympics in a row at which they have won a medal.
"For the girls it means a hell of a lot," said head coach Mark Hager. "It's so rewarding for the group. Four months ago, if you asked me if we could get a medal I'd probably have said no. We had belief so it's very pleasing."
The men's team were knocked out in the quarter-finals.
Funding amount: £6,564,334
Medals: 1 (bronze)
Chelsie Giles claimed Great Britain's first medal of the Tokyo Olympics with bronze in the women's -52kg event.
Judo will lose £1,117,530 in funding for Paris.
Funding amount: £5,498,321
Medals: 2 (2 gold)
Kate French's Olympic gold was Great Britain's first since Steph Cook's victory at Sydney 2000, with two silvers and a bronze won across the Athens, Beijing and London Games.
Joe Choong added a second gold in the men's event after finishing 10th in Rio five years ago.
Pentathlon GB faces a 20% cut to its funding for the Paris cycle.
Funding amount: £24,655,408
Medals: 2 (1 silver, 1 bronze)
Rowing has historically been one of Team GB's most successful sports, and as such received the most funding for the Tokyo cycle, but took home just a silver and bronze from Japan.
Their two medals - in the men's quadruple sculls and men's eight respectively - is the team's lowest haul since Atlanta 1996, and the first time GB has failed to win a gold medal since 1980.
In December, it was announced rowing's funding had been reduced by about 10% to £22.2m for the Paris 2024 cycle.
British Rowing performance director Brendan Purcell said GB's performance in Tokyo was "heartbreaking" and "frustrating" but added: "We're really confident we're on the track to lift up and deliver in Paris."
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Funding amount: £22,249,000
Medals: 5 (3 gold, 1 silver, 1 bronze)
Sailing was one of the success stories for Team GB in Tokyo, as they finished as the top sailing nation for the fifth time in six Olympics.
Hannah Mills became the most successful female Olympic sailor of all time with her 470 gold alongside Eilidh McIntyre, adding to Giles Scott's Finn gold, Dylan Fletcher and Stuart Bithell's 49er gold, John Gimson and Anna Burnet's Nacra 17 silver and Emma Wilson's windsurfing bronze.
After winning his second successive Finn title, Scott said British sailing was "in a good place" but much will change going into Paris, with the Finn class being dropped and the 470 changing to a mixed event.
Funding amount: £6,008,790
Medals: 1 (bronze)
Team GB had their shooting funding boosted from £3,950,888 to £6,008,790 for Tokyo 2020.
Matthew Coward-Holley was going for gold, but had to settle for bronze in the men's trap shooting final.
British medal hope Amber Hill, the world number one, withdrew from the women's skeet competition on the eve of the Olympics after testing positive for Covid-19.
Funding is set to be reduced to £5,802,749 for Paris.
Funding amount: £678,722
Shauna Coxsey was Team GB's sole hope as sport climbing made its Olympic debut but Coxsey, set to retire after the Games, failed to reach the women's final.
Climbing is one of seven sports that will receive 'progression' funding during the Paris 2024 cycle, "marking the start of a programme of support in the long-term medal potential". It has been awarded £1,562,811.
Funding amount: £18,731,645
Medals: 8 (4 gold, 3 silver, 1 bronze)
British swimming's remarkable Tokyo 2020 campaign will not be forgotten in a hurry, such was the success in the pool.
Eight medals, four of them gold, made it GB's greatest ever Olympic performance in the pool and the first time in 113 years that GB had won four swimming golds at one Games.
It was kick-started by Adam Peaty winning the 100m breaststroke to become the first British swimmer to retain an Olympic title, before Duncan Scott claimed four medals - the most by a Briton at a single Games.
"I really do think this squad is going to go from strength to strength heading to Paris," said four-time Olympic medallist Rebecca Adlington.
"None of our top swimmers will be stopping and there are loads of talented female and male swimmers who aren't even in Tokyo who will be bursting through soon, so it's looking very bright for the future."
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Funding amount: £8,223,805
Medals: 3 (2 silver, 1 bronze)
Britain's taekwondo hopes were dealt a blow early on when two-time defending champion Jade Jones suffered a shock defeat in the first round.
But up stepped Bradly Sinden and Lauren Williams, who won silvers in their respective events, before Bianca Walkden added a second bronze medal to her collection.
It meant GB Taekwondo equalled its record haul from Rio 2016, despite missing out on gold for the first time since 2008.
Funding amount: £7,049,372
Medals: 3 (1 gold, 2 silver)
British athletes are a common sight on the Olympic triathlon podium and Tokyo 2020 was no different, with three medals.
Alex Yee kicked off the success, winning men's silver on his Olympic debut, before Georgia Taylor-Brown added another silver in the women's event.
But better was to come as Yee and Taylor-Brown teamed up with Jonny Brownlee and Jess Learmonth to win gold in the mixed relay event, ensuring Brownlee would bid farewell to the Olympics with a complete set of medals.
British Triathlon will receive a slight reduction in funding for Paris but with young athletes like Yee taking over the mantle from the Brownlees, the future looks bright.
Skateboarding received just £197,725 from UK Sport but Sky Brown's bronze medal at the age of 13 means more Olympic success could be on the agenda at future Games.
Like sport climbing, skateboarding, basketball, fencing, surfing, table tennis and weightlifting will all receive 'progression' funding from UK Sport for the Paris cycle.
In weightlifting, Emily Campbell became the first British woman to win an Olympic medal with her +87kg silver - Great Britain's first Olympic weightlifting medal since 1984.
That came despite the sport losing its UK Sport funding after Rio 2016.
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