Qatar's Al-Jazeera satellite television channel showed footage of Taleban forces blowing up the smaller of two massive statues carved into a cliff in the central province of Bamiyan.
Despite an international outcry, the Taleban destroyed several Buddhist artefacts around the country, arguing that they were un-Islamic.
Bamiyan's Buddhas were part of a rich cultural heritage dating back nearly 2,000 years and were considered among the finest examples of Greco-Indian art.
Gaping hole
Television pictures showed a massive explosion which shook the ground, followed by plumes of dust and smoke.
Unidentified voices could be heard crying "Allahu Akbar" (God is Great) and "Ma Sha'Allah" (Whatever God Wills).
As the smoke cleared, it was evident that where the giant Buddhas had once stood, there was now a gaping big hole.
Taleban officials scrambled up into the crevice where the 125-foot figure once stood and the camera panned around to show a panoramic view of snow-capped mountains and terraced plains around a river bed.
Ritual slaughter
It took the Taleban nearly two weeks to act on an edict to destroy the giant statues.
On Monday the authorities began the ritual slaughter of 100 cows to atone for the delay - an order passed last week by the Taleban's reclusive supreme leader, Mullah Mohammad Omar.
A Taleban official told journalists: "Based on the order, the slaughtered meat will be distributed to the poor residents of Kabul and other areas.
"This is an atonement for the delay in destroying the Buddhas."
Outcry
The destruction of the Buddhas came in for strong criticism, especially from its neighbours, including India and Pakistan.
Several Muslim countries condemned the move, saying the Taleban's action was un-Islamic.
The Taleban also expelled the BBC correspondent in Kabul, Kate Clark, for broadcasting what it described as "biased" reports of the Bamiyan statues destruction.
Ms Clark said she believed the main reason for her expulsion was her filing of a report in which she said most Afghans opposed the statues' demolition.