Labour Minister Kellie Leitch, a medical doctor who was close to Flaherty, was the first to speak.
She recalled how Flaherty got her into politics by relentlessly calling her until she finally relented and decided to run for office.
Leitch called Flaherty's legacy immense and lauded his policy initiatives, including the registered disability savings plan and the tax-free savings account.
A card rested on a table in the Commons, which read: "You are and will always be missed and remembered."
Flaherty, who stepped down as finance minister only a month ago, had been battling a rare and painful skin disorder for more than a year but insisted after delivering his Feb. 11 budget that he was on the mend.