CNN's Larry King was the grand marshal.
Some of the celebrities on the bill included former "CHiPs" star Erik Estrada, "Dancing With the Stars" finalist Kyle Massey, Dick Van Dyke and Stefanie Powers.
The parade began in 1928. It was nearly canceled in 2007 after it ran into financial trouble.
It was saved when the city of Los Angeles stepped in to help with the cost.
But not everyone is celebrating. Parking problems have some visitors soured on the event.