The New Zealand Memorial will serve as a focus of remembrance of the shared sacrifice during the two World Wars and other military operations.
Several members of the Royal Family also attended the ceremony including Their Royal Highnesses the Prince of Wales and the Duchess of Cornwall, Prince William, the Duke of York, the Princess Royal and the Duke of Kent.
British Prime Minister Tony Blair and New Zealand's Prime Minister Helen Clark were also in attendance.
The memorial known as the Southern Stand, consists of 16 cross-shaped vertical bronze pillars - each one representing a different aspect of New Zealand life and inscribed with text, patterns and sculptures.
Thirty-two veterans and over 250 Service personnel from the New Zealand Defence Forces were present at the event - the largest contingent of New Zealand forces to be seen in the UK since Her Majesty’s Coronation in 1953
The Prince of Wales, the Duchess of Cornwall and Prince William attended the event.
The Prince of Wales in his Royal New Zealand Air Force uniform.
Her Majesty the Queen meets her New Zealand Prime Minister Helen Clark.
Maori welcoming ceremony.
Her Majesty the Queen inspecting the Royal Guard of Honour.
"The memorial is a symbol of our common heritage and of New Zealand’s distinct national identity," said Prime Minister Helen Clark in a speech.
The Queen and the Duke of Edinburgh along with Prime Ministers Blair and Clark honour New Zealand's war dead.
The Queen greeted the 34 New Zealand veterans at the end of the ceremony.