With halter-like straps and a plunging neckline, the dress also featured a fitted underskirt with a high slit up the front, layered underneath a fuller second layer that flowed out like a train from the back.
She paired the stunning frock with a set of deep red Giuseppe Zanotti stiletto pumps and a poppy pinned to her chest, in honour of Remembrance Day.
The duchess let her outfit do the talking, keeping her accessories to a minimum. However, eagle-eyed royal fans did note that Meghan wore her late mother-in-law Princess Diana's diamond tennis bracelet.
The mother-of-two's hair was styled in a sleek ballerina bun and kept her makeup simple with a glossy nude lip and burgundy winged liner under a set of false lashes.
Prince Harry let his wife shine on the evening, dressing in a simple black tuxedo with his military medals pinned to his blazer.
Reporters and photographers called out to the royal couple as they arrived, but one question cut through the chatter and made it to Meghan.
"Meghan, are you proud of your husband?" a reporter asked in a clip shared to Instagram.
She turned to look over her shoulder and replied with a smile: "I'm always proud of him".
Another called out to Harry asking how his grandmother, the Queen is after a recent health scare, to which the duke responded: "Great, thank you".
WATCH: Meghan Markle and Prince Harry hold hands at Royal Albert Hall (story continues below)
The royal duo held hands as they arrived, breaking apart only to chat with a few of the notable attendees before walking inside together.
It's one of the couple's first major red carpet events since quitting the monarchy in 2020, but Meghan's outfit is giving fans a serious case of deja vu.
Her dress is reminiscent of one she wore to the Mountbatten Festival of Music at Royal Albert Hall in March 2020, which was one of her and Harry's final official engagements as senior royals.
Meghan donned a scarlet red Safiyaa cape dress for the occasion and wore her hair long and straight, while Harry was dressed in military uniform.
Now, more than a year later, the duchess appears to have recreated the look which was so popular among royal fans at the time.
This story originally appeared on our sister site Now To Love.