Ice Cube's star was unveiled outside the Musician's Institute, where fans and heavy hitters from the music and movie industries gathered to celebrate Ice Cube's accomplishments.
Ice Cube thanked his family for always supporting him throughout his lengthy career.
WATCH: Ice Cube thanks his parents at Walk of Fame ceremony
"Thank you mama for always supporting whatever I wanted to do, whether you was with it or not, you said 'As long as it kept you off the street, you can do it,'" he said.
He also thanked his father for being a constant role model in his life.
"A lot of guys don't have their fathers around, and if you want to make a man like this, stay around your sons. Stay around your kids," he said.
WATCH: Rapper WC calls Ice Cube "musical genius"
Rapper WC, who formed Westside Connection with Ice Cube, spoke at the ceremony, calling Ice Cube a "musical genius."
WC started off his statements with, "Today was a good day, ain't it y'all?" referencing Ice Cube's '90s hit, "It was a Good Day." This drew loud cheers from the crowd.
He went on to say that Ice Cube was never afraid to go against the grain and sacrifice his career in order to bring about change.
"One thing I can say that he did better than most was utilize his lyrics to wake up spirits," he said.
Also speaking at the ceremony was John Singleton, who directed "Boyz n the Hood."
"I wouldn't have a career if it wasn't for this dude," Singleton said, nodding toward Ice Cube.
WATCH: Director John Singleton says he owes career to Ice Cube
The ceremony came three days after the release of the 25th anniversary edition of Ice Cube's second album, "Death Certificate," which includes three new songs.
Ice Cube was also a producer of the 2015 biopic "Straight Outta Compton."
The rapper rose to fame with the group NWA, and he's starred in films including "Boyz n the Hood," "Barbershop," "Ride Along" and "Friday."