The Olympic ball was attended by Team GB Olympians from all 26 summer sports and over 70 London 2012 Olympic medallists including Rebecca Adlington, Anthony Joshua and "Super Saturday" star Greg Rutherford.
The athletes "inspired a nation" with "indelible memories", according Lord Coe, who made a speech at the sold-out gathering.
The British Olympic Association (BOA) chairman said: "I would like to congratulate and pay tribute to the athletes of Team GB for the part each of you played in making London 2012 such a remarkable success.
"You inspired the nation. You inspired a generation - indelible memories that will leave a glow for years to come."
Speaking before the event, Lord Coe said the BOA fundraising event was the start of the long road to the Rio Olympics in 2016.