It is thought to be the largest such operation carried out in Europe.
The work at the site near Annan was completed a year ahead of schedule and at Â£5m less than the original estimated cost of Â£43m.
Some 3,300 tonnes of asbestos have been taken from the turbine hall, reactor buildings and heat exchangers.
Since 2007 over one million bags of asbestos waste  - enough to fill four Olympic-sized swimming pools - have been removed from the site and taken to licensed landfill sites.
Site director John Grierson said: "This is a tremendous achievement for Chapelcross and OCS Environmental Services; the safe, early and cost-efficient delivery is testament to the quality of the personnel working on the project.
"It is a major milestone in moving the site towards a care and maintenance state and demonstrates our commitment to excellence in nuclear decommissioning."
Before the actual asbestos strip could beging in 2009, two years were taken to erect a containment structure around each of the 16 heat exchangers to aid the construction of asbestos enclosures and protect it from further damage by wind and rain.
Constructing the containment required:
The scaffolding boards used for the containment, if placed end to end, would have stretched from Manchester to Bristol.
Brian Burnett, head of programmes at the Nuclear Decommissioning Authority, said: "The safe removal of 3,300 tonnes of asbestos at Chapelcross completes an important hazard reduction activity for the site and a key step on the path to care and maintenance.
"I commend Chapelcross and Magnox on completing this project."
An eight-year project to remove asbestos from the former Chapelcross nuclear plant has been completed ahead of schedule and under budget.