The Los Angeles band has won three Grammy awards and recorded nine number-one hits.
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Since 2011, Levine has also served as a coach on the singing show "The Voice" and has had roles in film and television.
He was joined at the ceremony by his "Voice" teammates Blake Shelton and Gwen Stefani and his Maroon 5 bandmates. The group just celebrated its 23rd anniversary together.
At the ceremony, Levine talked about how much he loved growing up in Los Angeles and getting to experience the live music scene.
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"This is a surreal and exciting and astonishing moment to be experiencing," Levine said. "It's really incredible."
Levine's star is located in front of the Musicians Institute on Hollywood Boulevard.