The ceremony was organised by the Association of 4th Guard Brigade Veterans.
General Krsticevic said the monument should recall the perseverance, firmness, courage and sacrifice of Croatian defenders in the 1991-95 war.
"It should remind us of all those killed, unaccounted for, known and unknown Croats who suffered, who sacrificed themselves for the Croatian people, and Zvonko Busic was certainly one of them," he said.
Busic was a former Croatian emigrant who committed suicide yesterday. He served 32 years in US prisons for a 1976 plane hijacking and the death of a US policeman. He hijacked the plane in a bid to promote Croatia's fight for independence from the then communist Yugoslavia.
Minister Kotromanovic, a former 4th Guard Brigade commander, said this was a good day for all former Brigade members and that the unveiling of the monument testified to the Brigade's invincibility.
Minister Matic said the 4th Guard Brigade was a Split brand and that it had never disappointed, while Mayor Baldasar said said the monument was a "reminder of the Croats' fight for their country."
The 4th Guard Brigade was an elite Croatian Army unit, known as the Spiders, founded on 28 April 1991. During the war, 193 of its members were killed.
The decision to erect the monument was made by the Split City Council in June 2012.
Also today, Gotovina was presented with the Split Honorary Citizen Charter.
Speaking of the monument unveiling, he said it was a "lasting reminder of a time when the 4th Guard Brigade was the axis of the honourable defence of this area and our country, our families and our homes. Defence was a duty and an obligation. We are proud of that period in our lives."
He said it was "up to us to spiritually and materially build the country into one of happy people," thanking the city authorities for the honour bestowed upon him.
The decision to name Gotovina an honorary citizen of Split was made by the City Council last November.