The lasting legacy was created in honour of John McAleese to recognise the part he played in the 1980 Iranian Embassy siege.
The bust, positioned at Laurieston Cross, was revealed to the public last Thursday.
The Ancre Somme Association formed a John McAleese MM Commemoration Society to deliver the project, which needed to raise £50,000 in order to fund the memorial.
John was among the SAS squad that stormed the London building after six armed men took 26 people hostage.
The gunmen, who were members of the Democratic Revolutionary Front for the Liberation of Arabistan, demanded autonomy for the southern Iranian province of Khuzestan and sought the release of prisoners captured during the Iranian Revolution of 1979, plus their own safe passage out of the UK.
The plan for a memorial was originally to see it unveiled on the 40th anniversary of the siege ending in May 1980, but delays in the project due to the pandemic saw the organisers instead hold the moving ceremony on the tenth anniversary of John’s death, aged only 62 on August 26, 2011 in Greece.
1. Crowds attend unveiling of memorial to Laurieston SAS hero John McAleese
Crowds gathered to witness the unveiling of a memorial dedicated to Laurieston SAS soldier John McAleese. Picture: Michael Gillen. Photo: Michael Gillen
2. Crowds attend unveiling of memorial to Laurieston SAS hero John McAleese
John McAleese's son Kieran, 24, and daughter, Jess Savage, 32, alongside his twin brother, Billy McAleese. Not pictured Hayley McAleese-Lewis, daughter. Picture: Michael Gillen. Photo: Michael Gillen
3. Crowds attend unveiling of memorial to Laurieston SAS hero John McAleese
Laurieston man John McAleese led Blue Team during the 1980 Iranian Embassy siege in London. Picture: Michael Gillen. Photo: Michael Gillen
4. Crowds attend unveiling of memorial to Laurieston SAS hero John McAleese
A close-up of the memorial bust honouring Laurieston SAS soldier John McAleese. Picture: Michael Gillen. Photo: Michael Gillen