The Ken Mills, which can be used as a coxed four or a coxed quad, was duly christened with champagne by his daughters Stephanie and Crystelle.
Following the ceremony, the Ken Mills was launched, and club members lined the banks of the Stour for a formal row past.
Ken, who lived in Colchester, sadly died during the club regatta in August while he was taking part in a veterans' race.
Mayor of Sudbury John Sayers said: "There can be no better celebration of a man who did such a lot for the club. What better tribute than to have a boat with his name on the river."
Club chairman Tricia McGrillen said the committee had wanted to honour the memory of Ken, who had looked after membership as well as being treasurer.
"The club needed a second quad boat, and we decided this was the best way of paying tribute to him."
She presented a cheque for £900 to the Sudbury St John Ambulance, who had attended Ken at the regatta.
The club had organised a sponsored row and other events to raise the money.
Kay Gibbons, Sudbury St John quad treasurer, and Colin Murphy, member in charge, were at the club to receive the cheque.
The money will be used to upgrade communications, but some of it is being earmarked to launch a fund for new headquarters.
Since having to leave St Leonard's Hospital, Sudbury St John has been without a base.
The ambulance operates out of the Delphi factory, where both Kay and Colin work, but classes for younger members are held elsewhere in town.