At the 18th annual celebration sponsored by Elle magazine, Streisand was repeatedly credited by fellow honorees for being the inspiration for their success.
Jennifer Aniston told the 69-year-old entertainer that she loved her, and Freida Pinto said onstage that "sharing the same oxygen" as Streisand was an incredible birthday gift. The actress turns 27 Tuesday.
"You're a legend not only in Hollywood but literally all over the world," the "Slumdog Millionaire" star told Streisand. "I can say that because I come from India."
Streisand returned the love in kind, congratulating her fellow honorees, which also included actress Elizabeth Olsen and DreamWorks Studios chief Stacey Snider.
"They're all so charming, so well spoken, and so thin," Streisand said.
Streisand said that only seven percent of the top 250 films were directed by women and she urged her colleagues to be fearless about moving forward in the entertainment industry.
"Let's be bold and don't wait for the phone to ring," she said. "Create your own material. Tell me a story."
The love didn't stop with Streisand. Olsen said Pfeiffer inspired her to become an actress, and Reese Witherspoon said Aniston had "sex appeal and complete lovability."
"You just want to get your nails done with her and you want to make out with her at the same time. At least I do," Witherspoon said. "And that's what we do sometimes on Saturdays.
Viola Davis surprised the crowd when she announced she had adopted a baby. Davis said her baby's name is Genesis, but offered few other details.
The Associated Press contributed to this report.