The day included a screening of Gallagher's 1984 Ulster Hall performance, am exhibition and a Rory Gallagher Rock School session.
A plaque inside the Ulster Hall was also unveiled by Rory's brother and manager, Dónal Gallagher.
"It's superb that he's still being recognised, 40 years after he first moved to Belfast from Donegal and 35 after he first played the Ulster Hall," Dónal told hotpress.com.
The venue itself was closely associated with Rory during the seventies.
"One person who came to the event had seven ticket stubs from seven consecutive years of his concerts there," Dónal reveals. "Ulster Hall is on Beford St, which is also known as Bomb Alley, and it was also the first church of Ian Paisley. But that wouldn't affect Rory at all - he'd just stop a concert if there was the smallest sign of violence and tell them that a concert wasn't the place for political violence."
"He was so resolute that he even let people stand behind the band at the Ulster Hall (see picture) - which you didn't in the seventies."
Rory's fondess for the Ulster Hall was also remembered by its current manager, Pat Falls.
""Rory had a special love for Belfast, where he made his first real breakthrough playing with Taste in the late 1960s," he said. ""Since his untimely death, we often have been asked by fans to erect some form of memorial to him. This plaque, and this tribute night, is a great way of us showing our respect to one of the greatest Irish performers of his - or any - generation."