Mr Campbell's comments came in response to remarks made by Gerry Adams at a march in commemoration of the 1981 Hungerstrikers.
Speaking at the rally in the Bogside Mr Adams said: "The message to unionism is clear-if unionists want to exercise power; if they want an Assembly, and an Executive, taking meaningful decisions, then there is a price to be paid-and that price is sharing power with republicans in a partnership government of equals.
"Anything less is not acceptable and anything less will not work."
Responding to the leading republicans statements, Gregory Campbell told the Sentinel: "There has long been a campaign to re-write history and this is the latest version of it. The Hungerstrikers and the movement they were part of, for 30 years were engaged in campaign of terrorising people and tearing the economic heart out of this city.
"Ludricrous and outlandish statements like these simply prove the futility of their campaign.
"As long as the current generation of the Sinn Fein leadership are around they will be constantly reminded of their legacy."
Sunday's republican march also saw the display of a replica machine gun during the event.
The use of the gun, came Sinn Fein claimed, during a "historical re-enactment".
Gregory Campbell however said that a look at the demographics of Londonderry illustrated Protestants had shifted largely because of IRA activities.
The East Londonderry MP recalled the brutal murder of Joanna Mathers by the IRA during the 1981 Hungerstrikes.
The then recently married, 29-year-old census taker was shot at point blank range by republicans in Gobnascale whilst collecting forms door to door. Sinn Fein at the time opposed census gathering by the British as they viewed as co-operation with the state.
"There were a number of brutal killings during that period. I can recall the complete u-turn Sinn Fein made on census taking just a few years later, and how can they reconcile that for example with the murder of Joanna Mathers?
"Hopefully we are moving away from that, but we'll not move away from their grisly past so easily," he said.