Hundreds filed into the library to take part in the special ceremony dedicated to honoring the legacy of America's 40th president.
The event was complete with musical performances and even a 500-pound birthday cake for the Gipper.
Notable public figures at the ceremony included former Vice President Dick Cheney, the Reagan family and many members of Congress.
The Ronald Reagan Foundation reached its goal of raising $100 million for an endowment to ensure that Reagan's legacy lives on in America's future leaders.
"I was born two months after he left office, so I didn't really know President Reagan as the president," said Brodi Conozer with the National Youth Leadership Committee. "It's kind of passing on the torch. He was a transcendental leader. He was a great leader. We can always learn, whether you agree with him politically or not, you can learn to respect other people like President Reagan did."
Saturday, hundreds paid tribute to the late leader at a celebration called, "A Concert for America - A Tribute to Ronald Reagan."
From live testimony and video tributes to a musical salute, the night centered on a man known as a great communicator who changed the trajectory of the U.S.
Reagan was 93 when he died on June 5, 2004, after a 10-year battle with Alzheimer's disease.