Family and friends gathered at St Mary's Cathedral in Sydney this morning to farewell the 48-year-old skipper, who was killed along with his navigator Sally Gordon when their boat ran aground on Flinders Islet.

Mr Short's wife Kylie broke down in tears as she thanked her husband "for sharing this journey called life".

"I was blessed to be your wife, grateful to have held your hand, to have loved you throughout the years," she said.

"I can hardly accept you've been taken away.

"I can hardly bear the thought of facing the future without you here.

"I'm still not sure how I'll get through this loss."

Mr Short and Ms Gordon, 47, were competing in the 92-nautical-mile Flinders Islet Race, a lead-up to the Sydney to Hobart classic, when their boat ran aground on the island about 3am.

Fifteen others from the stricken yacht managed to make their way to Flinders Islet, where they were winched to safety.

Mr Short and Ms Gordon were both veterans of the Sydney to Hobart race, and were well known in sailing circles.

A memorial service will also be held for Mr Short and Ms Gordon this afternoon at the The Cruising Yacht Club of Australia at Sydney's Darling Point.