The star was unveiled at a ceremony Thursday, which was attended by her children, mother Angelica Maria and actor Jaime Camil.
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Vale and Camil starred in the 2006-07 Televisa telenovela "La Fea Más Bella," whose three-hour finale drew the largest audience for a telenovela finale in Mexican television history, despite airing opposite the Oscars.
Vale received a TVyNovelas Award best actress prize for her portrayal of an intelligent and charming but very ugly young woman who becomes the assistant to the president of one of Mexico's most prestigious media enterprises, played by Camil.
Vale is a member of L.A. Mayor Eric Garcetti's community outreach team. Garcetti hailed Vale as "an angel in the city of Angels."
"We are so proud of this incredible woman," he said. "... She is not only an incredibly talented star -- she's brought joy to people on stage, on screen -- but it's also when nobody is around that she's a joy to be with, when the cameras are off. A bright spirit. An amazing wife, mother and daughter."
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Vale is known as the "Latina Queen of Stage Comed"' and regarded as the Tina Fey and Carol Burnett of Spanish-language entertainment with an extensive career in film, television, music and radio, including hosting the five-hour "La Vale Show" mornings on Cali 93.9, KLLI-FM.
Vale has appeared in more than 300 television programs, including being the main host of HBO Max's "Bake Off Mexico" and the head judge and character coach of the Univision talent competition series, "Tu Cara Me Suena."
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City News Service contributed to this report.