Jackson's three children -- Prince, Paris and Blanket -- took center stage to place their father's shoes and a famous sequined glove into the cement outside Grauman's Chinese Theatre. The children were also allowed to place their own handprints next to their father's.
"For me, and I think I speak for him as well, this right here is his lifetime achievement award," said oldest son, Prince. "This is what he strived to get, and this is what we are giving him now today."
Some big entertainment names were in attendance to honor Jackson, such as Justin Beiber, Smokey Robinson, Quincy Jones and comedian Chris Tucker.
"He was just a great person. Not only was he the biggest star in the world, and changed the world, and there will never be another one like him, but he was also the kindest man in the world," Tucker said.
Jackson's mother, Katherine, and brothers Tito and Jackie also attended the event.
The event, produced by the executors of Jackson's estate, was aimed at more than just paying tribute to Jackson. The ceremony also marked the Los Angeles run of a Cirque du Soleil production featuring Jackson's music called, "Michael Jackson The Immortal World Tour," which is set to open on Friday. Cirque du Soleil announced it will be adding more L.A. performances in August due to high ticket demand.
Jackson died on June 25, 2009, at age 50 from an overdose of the powerful surgical anesthetic propofol. His personal physician, Dr. Conrad Murray, was convicted of involuntary manslaughter and sentenced to four years behind bars.
Nearly a billion of Jackson's records have sold worldwide. Jackson also had 13 No. 1 songs and was voted into the Rock and Roll Hall of Fame twice.
Jan. 26 was officially declared "Michael Jackson Immortal Day" in the city of Los Angeles.