The festive day featured the unveiling of a statue of the late Bruce Lee, who many said symbolizes perseverance.
Dozens of people enjoyed music, performances and treats by local food vendors at Chinatown's Central Plaza on Broadway.
Many of the Los Angeles Chinatown board members are direct descendants of the neighborhood's founding fathers.
Mary Moy, who is 94 years old, was there with her daughter, children and great grandchildren.
"It makes me feel special and really proud that I'm part of the founding family of Chinatown," said young Cameron Quon.