Organizers obtained a permit to shut down the public streets. They put up tents for a private memorial at the spot where Walker lost his life.
"Fast and Furious" stars Vin Diesel, Tyrese Gibson and Michelle Rodriguez joined Walker's parents and his daughter, Meadow, at the candlelight vigil.
Diesel spoke to fans who were gathered at the crash site, thanking them for showing so much love and support to Walker, who he called his "brother."
Walker's father spoke out earlier on Monday, remembering his last moments with his son.
"I was really close with my son. I'm glad to say last time I was with him, we had a great, great talk about how he wanted to spend more time with his daughter, Meadow, and plans, things he wanted to do," said Paul Walker III. "He talked about everything but the film industry."
Walker and his friend, Roger Rodas, died in the single-car crash near Rye Canyon Loop and Kelly Johnson Parkway at about 3:30 p.m. Saturday.
"I knew he loved me. It went both ways. And I always gave him a kiss," said Paul Walker III. "I'm devastated, and it comes in waves."
The cause of the crash remains under investigation, but investigators say speed was a factor. Sgt. Richard Cohen of the L.A. County Sheriff's Department says police received a phone call tip suggesting another car was at the scene at the time of the accident, but they have been unable to reach that caller to get more information.
The 40-year-old actor had attended a charity event at a nearby business he owned called Always Evolving Performance to raise money for typhoon victims in the Philippines.
Friends said Walker, a car enthusiast, decided to go for a ride with Rodas, his friend and business partner. Walker is believed to have been the passenger in the red 2005 Porsche Carrera GT, which crashed into a tree and light pole and burst in flames.
The area is known for street racing, but friends of the victims say the men were not racing.
"When they pulled out of the parking lot, they weren't drag racing. When they flew past us, they weren't drag racing anybody," said Jim Torp.
A makeshift memorial at the crash site is growing, as mourners leave flowers, candles, DVDs and loving messages for the actor.
"Came over yesterday to pray, and I was on my way to work today, and I drive past here, so I just wanted to come by here one more time," said Christi Saavedra of Canyon Country. "It's very sad that they were doing such a great thing moments before this happened."
Walker and Rodas' autopsies are scheduled for sometime Tuesday.
Anyone with information about the crash is urged to call Los Angeles Regional Crime Stoppers at (800) 222-TIPS.
Walker's family says they are grateful for the outpouring of love and support of fans. Instead of flowers, the actor's family says fans can make donations to the charity that Walker founded, Reach Out Worldwide.