Foreign Minister Julie Bishop has described Myuran Sukumaran and Andrew Chan as examples of hope transformed through remorse and rehabilitation.
Their execution by Indonesian authorities early on Wednesday was senseless and unnecessary, she said hours after the pair's deaths.
Ms Bishop paid tribute to their efforts in helping improve the lives of other prisoners since their conviction 10 years ago on drug-smuggling charges.
"They were examples of the hope and transformation that can come about through reflection, rehabilitation and remorse," she told reporters in Canberra.
Australia has recalled its ambassador from Jakarta as it considers what other action it might take to protest the executions.
Cutting the $650 million aid program to Indonesia was an option Ms Bishop did not rule out, indicating any decision would be left to the May 12 budget.
She played down criticism of the role the Australian Federal Police played in the arrest of the Bali Nine drug smugglers in 2005 which ultimately led to the execution of Chan and Sukumaran.
"I don't believe today is the time to look for recriminations," Ms Bishop said.
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