Thirty-three New Zealand Bomber Command veterans joined thousands of others for the long-awaited memorial in Green Park near Buckingham Palace to remember the bravery of more than 55,000 British and Commonwealth RAF crew who died in the conflict.
The Queen unveiled the 70-metre-long memorial featuring a 2.7m bronze sculpture of a seven-man bomber crew at 11pm last night (NZ time).
It was an emotional event, said New Zealand Defence Force spokeswoman Hazel Dobbie, who was with the New Zealand veterans.
"It does the veterans proud. It was a really emotional day,' she said.
British veteran Frank Prebble, told the Daily Mail it is important to remember the men who did not come home.
"When you stand at that memorial and think of all those guys that have gone, I think that will be an important moment," he said.
Dudley Hannaford, 88, who travelled from Sydney for the service, served as a wireless operator on Lancaster bombers flying out of RAF Waddington in Lincolnshire.
The memorial was "absolutely wonderful, he told the Daily Mail.
"It makes me think of release and victory. I only played a very small part in that, but it is something to be very thankful for."
The New Zealanders' trip was funded by Veterans' Affairs New Zealand.
About 6000 New Zealanders flew in bombing raids over Europe during the war, braving anti-aircraft fire and fighter aircraft to attack German targets.
One of them was Bruce Cunningham, now aged 92 and living in Wellington, who became a prisoner of war after parachuting clear of his Lancaster aircraft when it was hit over Belgium in 1945.
He said he will never forget what went through his mind as he watched his mates fly away while he parachuted to ground.
"I distinctly remember thinking: 'They're a mile above me, I'm sitting down here ... and they're going home for eggs and bacon'."
He was caught, and spent time in a Russian detention camp from where he twice tried to escape.
Bomber Command crews had the highest Allied casualty rate of World War Two, with 55,593 men killed, including 1851 Kiwis.
New Zealand veterans not able to attend the unveiling ceremony in London will take part in a commemorative ceremony in Wellington later this year.
