The Grammy-nominated group, whose roots are in South Gate, has sold over 18 million albums worldwide.
Cypress Hill is celebrating its 30th anniversary in the music business this year.
The band's members, who go by B Real, Sen Dog, DJ Muggs, and Eric "Bobo" Correa, thanked their fans and family at the Hollywood ceremony.
"They said we wasn't gonna get a record deal. Who's got the last laugh now homeboy?" said DJ Muggs. "They said we was crazy for trying to legalize marijuana. Look at us now, homeboy."