The Gilgai War Memorial is a polished stone obelisk, made of blue granite, positioned on two blocks of the same material. Inscribed into these blocks are dedications and honour rolls for the First and Second World Wars, highlighted in gold. The memorial stands on top of several rough granite blocks and is surrounded by two sets of decorative fences, each consisting of pillars joined by metal posts or panels.
The memorial was unveiled on 5 August 1923 by Mrs Woodford, who had two sons from the area killed during the First World War. During the ceremony Reverend E. H. Stammer stated, "this little centre sent every eligible man, totalling 79, to the war, and of those 11 had been killed." The Lands Department dedicated half an acre of land to the village for the memorial (The Sydney Morning Herald, 8 August 1923).
The Gilgai Public Hall and Recreation Reserves Trust took over care of the memorial in 2011. On 23 September, the Trust received a 'Saluting their Service' grant from the Australian Government to install memorial plaques for the South African (Boer) War, Korea, the Indonesian Confrontation (Malaysia), Vietnam, and Australian National Service. They were installed in 2015 in time for Anzac Day commemorations. Phoenix Foundry cast the plaques and they were installed by Inverell's Thorley and Sons.
In 2020, the Gilgai Public Hall & Recreation Reserves Land Manager (GPHRRLM) Board, formerly the Gilgai Hall Trust, received a Community War Memorials Fund grant from the NSW Government to conserve, repair, and protect the memorial. Image 1 above shows the memorial following the project, which was completed in April 2022.