Sydney’s Anzac Memorial at Hyde Park will undergo a $40 million dollar upgrade that will see the original 1930s masterplan by Sydney architect Bruce Dellit, finally completed.

Johnson Pilton Walker architects (JPW), in collaboration with the NSW Government Architect’s Office, have unveiled their contemporary interpretations of Dellit’s original plan which includes a cascading water feature as well as a host of underground education and interpretation facilities.

The 15m x 60m water feature, flowing south above the underground learning centre, was part of Dellit’s original plans drawn in 1929 for a design competition that attracted 117 entries from all over the world.

JPW and the Government Architect’s Office have reinvigorated Dellit’s winning vision for the Memorial, which was curtailed due fund shortages during the Great Depression, with contemporary interpretations of the water feature as well as new underground facilities.

JPW’s new floorplan shows the addition of exhibition, education and collection rooms as well as new back of house and amenities.

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Dellit's grandson, Chris, was at the special ceremony held at the Memorial for the design reveal and told the ABC that his grandfather would be "absolutely delighted" with the plans announced today.

"The extension of the war memorial will introduce another contemplative space to the city, a space that celebrates courage, endurance, sacrifice," he said.

"All the elements that Bruce Dellit wanted people to think about when considering those men and women who endured the sacrifices of the first World War.

"I think he would also be greatly admiring of the effort of the architects and all those other people who've been involved in this project to bring to fruition his vision."

The $40 million project is being funded by the State and Federal Governments and it is hoped that it will be completed by the end of the centenary of Anzac celebrations in 2018.

 The City of Sydney is also contributing with a $7.5 million upgrade to the existing Pool of Reflection and associated works in Hyde Park around the Memorial Precinct.