A national service to remember the 332 victims and survivors of the sinking of the Australian Hospital Ship Centaur was held in Brisbane today.

The AHS Centaur was sunk without warning by a torpedo from a Japanese submarine on 14 May 1943, approximately 30 miles due east of the southern tip of Moreton Island.

The 66 year mystery surrounding its final resting place was solved late last year with the discovery of the ship's wreck off the Queensland coast on 20 December.

Prime Minister Kevin Rudd joined Premier Anna Bligh, Governor General Quentin Bryce, military officials, survivors, relatives of survivors and victims and members of the public at St John's Cathedral for the moving memorial service.

"Today we honour all those who lost their lives on the Australian hospital ship Centaur," Mr Rudd said.

"We also honour the families who then waited two-thirds of a century to discover the final resting place of their loved ones."

Ms Bligh said she hoped the memorial service will offer some peace to those affected by the tragedy.

"It's important we honour and remember the 268 people who died in the service of their country and acknowledge the devastating effect this has had on their families," she said.

87-year-old Centaur survivor Martin Pash spoke at the service and students from Centaur Primary School read out the names of the 268 men and women killed.

Today's national memorial service was the first of two commemorations.

A further 'at sea' ceremony is also being organised for later in the year.