A large crowd flocked to the MCG for Wednesday's service after the spin king's death, at age 52, from a suspected heart attack in Thailand earlier this month.
Music legend Elton John performed a pre-recorded version of Don't Let the Sun Go Down on Me and described Warne as one of the most amazing Australian cricketers of all time.
"It's a sad day today but it's not in some ways because his legacy lives on and he will live on through future generations," the singer said.
"He was mesmerising, brilliant and loved to play cricket, and loved life."
Australian actor Hugh Jackman also provided a pre-recorded tribute, saying Warne made the most of every second in his 52 years.
"Man, he sucked the marrow out of life," he said.
"He was a great teammate. He loved the game of cricket. He loved his friends and family. He loved life. There was no one like you, Warnie and never will be again. We will miss you."
In a touching speech, Keith Warne described his son's death on March 4 as the "darkest day in our family's life".
"Mate, your mother and I can't imagine a life without you. You have been taken too soon and our hearts are broken," he said.
Prime Minister Scott Morrison was jeered when introduced by host Eddie McGuire, while Premier Daniel Andrews is not in attendance after contracting COVID-19.
Others at the MCG, the site of some of Warne's greatest achievements, include former Australian Test captain Allan Border, ex-English skipper Nasser Hussain and West Indian great Brian Lara.
Warne's children will later unveil a stand named in his honour.