Children laid a wreath for nursery founders, sisters Margaret and Rachel McMillan, at a memorial in the school grounds and recreated a photograph taken around the time the nursery opened.
Nursery staff have also planned tree-planting events, an exhibition on the history of the school, a new centenary path and a time capsule.
The nursery has retained much of its original 1914 design and layout, with classrooms known as 'shelters' built around a central outdoor play area.
Headteacher Theresa Lane said, 'The celebrations are a great opportunity to find out more about our school's history.' and about the role that the McMillan sisters played in developing early years education.
'We are very proud of our history whilst at the same time being a 21st century nursery with very strong links with the local community in Deptford and Greenwich.'