The Canaries - who last played among the elite clubs of English football for just one season in 2004/2005 - had already secured a second-successive promotion at Portsmouth on Monday night after rivals Cardiff suffered a shock 3-0 home defeat by Middlesbrough.
It meant a party atmosphere at a sun-baked Carrow Road, where Paul Lambert's men had to come from behind after Richard Keogh bundled the Sky Blues in front at the start of the second half.
Two goals in the space of six minutes from captain Grant Holt and on-loan Liverpool youngster Dani Pacheco put the Canaries in front, only for Lukas Jutkiewicz to grab a quick equaliser.
While Coventry were left to contemplate another campaign looking up at the riches of the Premier League, the Canaries set off on a lap of honour as the 25,000-strong home support dreamed of tackling the likes of Manchester United, Chelsea and Arsenal just two years after dropping down into League One.
Norwich skipper Holt - who had been named player of the season before kick off following another 20-goal haul - almost got on the end of a deep Russell Martin cross from the right, but Keogh nodded clear.
Coventry, though, were in the mood to spoil the party and Norwich keeper John Ruddy, who made one Premier League appearance at Everton, did well to push away a fierce low strike from Chris Hussey.
The home side were soon back on the offensive, and United States defender Zak Whitbread saw his close-range effort scrambled off the line from a corner.
After a scrappy spell, Norwich midfielder David Crofts fired wide when well placed 20 yards out.
On 40 minutes, Holt saw his diving header brilliantly saved by Michael Quirke after Marc Tierney's ball in from the left.
Coventry again looked lively at the start of the second half and were deservedly in front on 53 minutes when Keogh - an ever present following his summer move from Carlisle - bundled the ball in after Hussey's shot had cannoned through a crowded six-yard box.
Norwich, though, immediately stepped up a gear and were level when Holt crashed in a bullet header from Tierney's swirling left-wing cross for his 23rd goal of the season.
The 30-year-old Canaries skipper, who has yet to play in the top flight, was then replaced by Liverpool starlet Dani Pacheco.
The Spaniard had an instant impact as he drilled past Quirke after weaving into the Coventry box on 62 minutes.
Norwich, though, switched off and were immediately punished when Hussey's low cross was tapped in by former Everton striker Jutkiewicz.
Pacheco then rattled the bar with a 25-yard free-kick, and Whitbread somehow stabbed the rebound wide.
Norwich have made a habit of conjuring late goals in a remarkable campaign, but this time could not find a way through as Simeon Jackson, whose goal at Fratton Park sealed promotion, was just off target with a close-range effort.
The lack of any points sanction for champions QPR following today's Football Association verdict into the registration of Argentinian midfielder Alejandro Faurlin meant there would be no trophy to parade at next week's Civic Reception - but you suspect that will not take the icing off the sweet £90m promotion cake for majority shareholder Delia Smith, who came down from the directors' box to revel in the jubilant post-match celebrations.