"We lost the flower of a generation and in the years to come it sometimes seemed that with them a sense of vital optimism had disappeared for ever from British life," William said at a ceremony in northern France.
"It was in many ways the saddest day in the long story of our nation," he added, speaking on the eve of the 100th anniversary of the start of the World War I battle in which some 20,000 British soldiers died on the first day alone.
Soldiers from the UK, France, Australia, Canada, Germany, India, Ireland, New Zealand and Pakistan will take turns maintaining the vigil until 7:30 AM (1100 IST), the precise time that tens of thousands of troops clambered out of the trenches only to be mown down by German guns.
"Tonight we think of them... We acknowledge the failures of European governments, including our own, to prevent the catastrophe of world war," the prince, also known as the Duke of Cambridge, said.
"It's quite emotional in a way. I feel it's important to remember these things," 73-year-old Irishman William Vernon said earlier as he arrived under rainy skies to attend the main commemoration ceremony today.
Vernon said he was coming to remember his great-uncle - also named William - who died aged 26 in the battle. Like the 10,000 members of the public attending, he applied for his ticket online.
Vernon's son, William, 33, said he felt it was important to pay tribute to his relative who died "in the most horrendous conditions. It was an absolutely awful war, a pointless war. To be in the trenches was absolute torture", he said.
"I do not want to die. The thought that I may never see you or our darling baby again turns my bowels to water," wrote Captain Charles May of the Manchester Regiment, who did not make it through the first day, in a letter to his wife.
Britain's Prince Charles will also attend the main ceremony at Thiepval today, one of six in the Picardy region.
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