A guard of honor was arranged near the memorial.
President Ilham Aliyev put a wreath at the monument.
The commemorative ceremony was attended by state and government officials, MPs, ministers, heads of committees and companies, leaders of religious confessions, as well as Khojaly genocide survivors.
Thousands of Baku residents arrived at the Khojaly memorial on February 26 to pay tribute to victims of the genocide on its 26th anniversary.
On the night of February 25-26 1992, Armenian occupants committed one of the bloodiest crimes in the history of mankind in the Azerbaijani town of Khojaly.