In Dishonored, if you would like to put your weapons away, then there is a button your can press to sheath your weapons.
This isn’t entirely necessary, since you can do pretty much everything including choke people out with your weapons in hand, but it does clear up your view a little bit.
To sheath your weapons, you simply press and hold the same button that equips them. On Xbox 360 you press and hold X for a few seconds, on PS3 you press and hold Square, and on the PC you press and hold the F button.