40 years on from Essendon's 1984 Grand Final victory, the Dick Reynolds Club will host a special celebration of the club's groundbreaking Premiership next month.

MC'd by club legend Tim Watson and joined by special guests in former Senior Coach Kevin Sheedy and Premiership Captain Terry Daniher, the event is a perfect opportunity for Bomber fans to reflect on one of the club's defining moments with the people who made it happen.

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Spurred on by the heartbreak of their 1983 Grand Final defeat to Hawthorn, the Bombers bounced back to make the decider again the following year, overturning a 23-point deficit at three-quarter-time to overrun the Hawks and bring a 13th flag back to Windy Hill.

The victory holds a special place in the memory of the Essendon faithful, who only two years ago ranked it as the greatest moment in the club's history spanning over 150 years.

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The 40-year celebration will take place at the RACV Club in Bourke Street, Melbourne on May 22, beginning at 11:30am.