Her star was unveiled in front of the W Hotel in Hollywood shortly before noon.
To mark the 2,500th star milestone, Lopez's star received a brass dedication, setting it apart from many others.
Lopez has released more than 70 million records worldwide since she kicked off her career that started in 1999 with the release of the single "If You Had My Love," which reached top of the charts in the U.S. and five other nations.
The first of her seven studio albums, "On the 6" was also released in 1999 and sold 8 million copies. Her second, "J.Lo" released in 2001, sold 7 million copies. Lopez is set to release a new studio album this fall.
The 43-year-old star has also had an extensive acting career, starring in such films as "Selena," "The Wedding Planner," "Monster-In-Law," "Maid in Manhattan," "Out of Sight," "The Back-up Plan," "What To Expect When You're Expecting" and more.
Keenen Ivory Wayans, who worked with Lopez during her time as a dancer on the Fox sketch comedy series "In Living Color," spoke fondly of the star, joking that he's known "Jenny from the block when she still lived on the block."
"I was there at the very beginning of the dream. I saw the dream almost not happen. I saw her continue to push, to work hard and make that dream happen," Wayne said.
Jane Fonda, Lopez's co-star in "Monster-In-Law," also spoke at the event.
"She should have an entire block of stars," Fonda said. "In my opinion, she's only scratched the surface of what she's capable of."
Lopez, fighting back tears at times, thanked the cheering crowd and her colleagues at the event.
"I love you, thank you so much for going on this journey with me," she said. "This landmark moment inspires me to work harder and dream bigger for all that is the future. I hope you feel as I do that it was all worth it, and I hope that I have touched your hearts even in a small way."
Lopez is currently an executive producer of the ABC Family drama "The Fosters," which premiered June 3. She is also the chief creative officer of the NuvoTV cable network.
City News Service contributed to this report.