About 300 people, residents and people from Hawke's Bay, Wairoa and Gisborne, gathered for the unveiling of the monument on Monday morning.
In blessing it, local pastor Reta Pohe said "we do not have the carcase but we have the wairua (spirit). That's more important than the body.
"Moko, your memory will always be living here and you live forever in our hearts."
The memorial pedestal was created by Gisborne stonemason Graeme Gedye of Stonehaven Memorials, using a blue granite base that looks like waves.
The Moko story is there in silver lettering, along with a photograph of the friendly rare solo dolphin taken by Wairoa Star photographer/journalist Glen Simmers.
Moko touched many people's lives, with many stories told after the event.
An 85-year-old man said he had wanted to swim with a dolphin all his life. "I did and it was absolutely amazing."
Mr Shortt said Wairoa District Council had been "fantastic".
"They have been really proactive and right in behind this. They have been painting fences and cleaning up the reserve."
Kay Blunden and Heather Harrap helped with "everything and anything" to get ready for yesterday. Mrs Blunden also made a special cake on a body board with all the things Moko loved, including a red ball, similar to the one he loved to play with with Mr Shortt when he returned from a day crayfishing. It was a red ball trailing from a fishing trawler that led him out of the Mahia district.
Local kaumata William Blake, who tried everything to get the dolphin's body returned to his home after he was found dead at Tauranga, blessed the ground where the memorial stood.
Mayor Les Probert said Moko making Mahia his home had been a pleasure for many locals and visitors. "He brought the district to the national and at times international limelight for all the right reasons."
It would be interesting to know what people in 100 years would think of the time capsule that contained information and issues in the district in 2011.
Mr Probert said Moko also highlighted another reason for the establishment of marine reserves.
"Animals like Moko could be attracted back here if there is abundant sea life."
Moko arrived on the Monday afternoon of Easter 2007 and spent the next two-and-a-half years delighting and amazing thousands of people with his friendly nature and playful antics.
He followed a trawler operating off Blacks Beach in early September 2009, which took him to Gisborne. He spent about four months in Gisborne and surrounding waters.
In January 2010 Moko followed the trawler Eskdale out of port and Whakatane was the dolphin's base for a further five months.
In June he once again got in tow with the trawler Eskdale and its bouncing red buoy off the back, which he followed into Tauranga Harbour. About three weeks later, on July 7, he was found dead and badly decayed by surfers on Matakana Island. His body was taken to Massey University but no cause of death was given.
Moko's final resting place is Matakana Island.
He made the Time magazine world top 10 most heroic animals this year for saving the lives of a Pygmy sperm whale and her calf from beaching in March 2008.
Finally a memorial for Moko the friendly dolphin is in place in front of the spot where he spent most of his time. The man who made first contact with him in Easter 2007, Bill Shortt, could not be happier.APNZ