Officials at the war memorial has announced the addition of Pte Kovco's name, and that of SAS Warrant Officer David Nary who died during a training exercise in the Middle East in 2005.
The two names have been added to more than 102,000 others on the official list of Australia's war dead.
Defence Minister Brendan Nelson said both soldiers' names were etched into the memorial's granite wall during a private ceremony on Saturday morning attended by their families and friends.
"Today, on Remembrance Day, we remember them and every Australian who has ever worn ... our service uniform," Dr Nelson told reporters after attending Remembrance Day commemorations in Canberra.
"It was a quiet, intimate ceremony this morning, attended by 60 friends, relatives and members of (Kovco's unit) 3RAR and the Special Australian Services regiment.
"It was a ceremony that gave dignity to the lives and service of both of these men.
"Their names are now added to those at the Australian War Memorial," Dr Nelson said.
Pt Kovco died after being shot with his own handgun. His death has been the subject of a lengthy board of inquiry which concluded public hearings last month.
His family has accused the Australian Defence Force of trying to cover up his death on April 21. His relatives also were angered by a bungled repatriation of his body.
An inquiry into Private Nary's death has found no one was to blame for the training accident that killed him on November 6 last year.