The forty-seven year old was at the centre of proceedings in front of a crowd of nearly a thousand people and the centre is the largest Buddhist centre in Europe.
“It was the most important of my life when I found Buddhism,” Baggio told reporters.
“Many today are trying to find out this philosophy so the creation of this site is, in a sense, the starting point of a big project”.
Baggio was greeted with great enthusiasm by the crowd and led a mediation on the site during the ceremony.
Often referred to as the Divine Ponytail, Baggio scored 27 times in 56 games for Italy and converted to Buddhism 27 years ago becoming of the most prominent Italians to do so.
Scoring over 200 times in Italian football, Baggio is considered one of the all-time greats in Italy.
Follow Richard Hinman on Twitter: @RichardHinman