Northern Territory Chief Minister Adam Giles says survivors will experience emotional memories on the 40th anniversary of Cyclone Tracy, but should feel proud of the way the city has bounced back.

Christmas Eve marks the night in 1974 when the storm tore Darwin apart, killing 66 people and destroying about 80 per cent of buildings.

Mr Giles says he wants Territorians to reflect on the great debt they owe to those who pulled Darwin out of the rubble and laid the groundwork for their great northern capital.

Governor-General Sir Peter Cosgrove led part of the Army contingent in the clean-up and says Darwin today is vastly different from what he saw a few days after the cyclone.