The names of all nine persons killed in the crash are inscribed in the monument designed in the shape of the Macedonian flag.
The monument unveiling ceremony was attended among others by Macedonian Prime Minister Vlado Buckovski, who laid a wreath on behalf of his government, and the wife of Boris Trajkovski.
Earlier in the day, a memorial ceremony was held in Mostar, with senior Bosnian government officials and representatives of the international community attending.
The plane carrying a Macedonian government delegation to an international business conference in Mostar crashed near Mostar airport on February 26, 2004 under still unclear circumstances. No one survived.
A central commemorative event is scheduled to take place in the Macedonian capital Skopje on Saturday.