Led by Rev Syd Graham, the private service for the couple from Bankfoot was held in Perth Crematorium on Crieff Road at 12:00.
The event lasted about 45 minutes and was also be broadcast on speakers outside the crematorium.
The funeral of Jim and Anne McQuire, the other Scots couple killed in the Sousse attacks, took place on Friday.
The Grahams were visiting the resort to celebrate Mrs Graham's 50th birthday.
Mr Graham, 51, had worked as a turnstile operator at St Johnstone Football Club for seven years.
They were among the 30 Britons who died in the attack on 26 June, which killed 38 people. Three Irish nationals, two Germans, one Belgian, one Portuguese and one Russian also died.

Castlepoint in Bournemouth opened in 2003 but the two-level car park has been reinforced with props since 2005 when it was found to be unsafe.
Bournemouth Borough Council has granted planning permission for it to be demolished and rebuilt in sections.
Work is expected to be completed by Christmas 2018.
Sean Jeffery, managing director of Kier Infrastructure UK, which built the shopping centre, said: "This is very welcome news. Together with the Castlepoint Partnership, we have worked hard to reach this stage.
"There remain a few key steps to put in place, but this consent brings us closer to being able to start work on-site."
The rebuild has been delayed for years as a result of legal wrangling.
Standard Life Investments, which manages the centre on behalf of Castlepoint Partnership, would not reveal the cost of the rebuild but said there would be no cost to tenants.
To minimise disruption, work will be carried out in five phases, each taking nine to 10 months, stopping for six weeks each Christmas.
Additional parking will be created underneath existing stores to maintain at least 2,500 spaces - the amount needed at peak times.
When the project is complete, the additional spaces will be turned into more shops.
The walkways in front of the upper level stores will also be replaced in phases.

About 300 Jews went to Jasenovac a week ahead of the official ceremony.
Jewish association chief Ognjen Kraus said the snub was a warning to the new centre-right government, which took power in January.
Tens of thousands died at the camp known as the "Croatian Auschwitz".
Ethnic Serbs and anti-fascist groups are also boycotting next week's official ceremony.
The death camp - whose victims included Jews, Serbs and Gypsies - operated under the Ustashe regime, which ran Croatia as a Nazi puppet state.
However, activists say some Croatians see the Ustashe as the country's founding fathers and play down their crimes.
"This is an avalanche that has been rolling for more than a year," said Mr Kraus, president of the Co-ordinating Committee of the Jewish Communities.
In January, ultra-nationalists shouted pro-Nazi slogans at a rally attended by thousands of people, including Deputy Parliamentary Speaker Ivan Tepes.
Similar slogans were also chanted during a football match between Israel and Croatia in March, attended by Prime Minister Tihomir Oreskovic.
Three-quarters of about 40,000 Croatian Jews were killed by the Ustashe and Jews now make up less than 1% of the population.
The funeral for Billy and Lisa Graham, who were killed in last month's terror attacks in Tunisia, has taken place.
[NEXT_CONCEPT]
Work to rebuild a shopping centre car park that has been beset with structural problems for a decade will now go ahead in the spring of 2015.
[NEXT_CONCEPT]
Croatian Jews have held their own Holocaust commemoration at a World War Two death camp, in protest at what they say is government inaction in the face of surging neo-Nazi sentiment.