De Niro, a native New Yorker, said the ceremony made him feel truly at home in Hollywood.
"They say everyone in the film industry has three homes: The home where they live, the home where their first wife lives, and Hollywood," De Niro said. "I love New York and I am proud to be a citizen of Hollywood. Thank you for this honor and thank you for making me feel at home here."
Fellow actor Billy Crystal and "Silver Linings Playbook" director David O. Russell were in attendance to commend, and joke about, De Niro.
"I am so honored to be here to help put his feet and hands in cement, something he had done in films to a lot of other people," Crystal said. "...There has never been anyone like him on screen, and there never will be again."
De Niro is up for an Oscar for his supporting role in "Silver Linings Playbook." Russell lauded De Niro for his performance during the ceremony.
"When we first read the script together, he cried, because he has known people who have struggled with PTSD or bipolar [disorder]," he said. "Many families are no stranger to these challenges, and they have to find the magic and the love that Bob brought in his soul to this movie."
De Niro won an Oscar in 1974 for best supporting actor in "The Godfather: Part 2." In 1980, he was awarded the best actor for "Raging Bull."
De Niro was born in 1943 and has starred in films including "Mean Streets," "Taxi Driver," "The Deer Hunter," and "Cape Fear."
Grauman's Chinese Theatre was recently purchased by Chinese electronics firm TCL, resulting in a name change.
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City News Service contributed to this report.