"I love all of you,” the actor told a cheering crowd. "I just want to thank you, and that's all I can do."
Viggo Mortensen, who costarred with Hopper in 1991's The Indian Runner and 1993's Boiling Point, participated in the ceremony for the legendary rebel, 73, who appears thin from his debilitating battle with prostate cancer.
Producer Mark Canton called Hopper "the coolest guy on the planet," while Mortensen told the audience what sets Hopper apart is "his ability to instill … fearlessness … as an artist and friend."
Hopper, who is currently going through a bitter divorce with his wife of 14 years, Victoria, was said by his attorney to be too weak to be deposed in the case.
His doctor, however, said that Hopper's attendance at the unveiling of his star was likely to be good for him, the Los Angeles Times reports.
With reporting by MELODY CHIU