Mr Munro, who, as a member of the elite 617 'Dam Busters' squadron, took off for the raid against German dams in May 1943, was forced to turn his Lancaster bomber back after flak destroyed the plane's communications systems.
He became a key figure in the history of 617 squadron. He took part in a series of important precision raids and on the eve of D-Day played a central role in an operation which fooled the German forces into thinking that an invasion fleet was sailing towards the Pas de Calais rather than Normandy.
Mr Munro said: "My reasons for donating my medals and my flying logbooks to the RAF Benevolent Fund and, more particularly, the Bomber Command Memorial, were prompted by my visit to the memorial in May 2013.
"I could not help but think of the cost of its ongoing maintenance and, with the feelings of the descendants of those 55,573 in mind, believe that every effort should be made to maintain the memorial in the best possible condition."
He said it was a travesty that the memorial was not unveiled until 2012 - 67 years after the end of the war.
View Les Munro's statement about his decision to sell the medals here.