"What a thrill it is to be here at Graceland," said Stamos, who was assisted by patients from Memphis' Le Bonheur Children's Hospital in "flipping the switch" at the Graceland lighting ceremony.
The honor was especially meaningful for Stamos, who has been a life-long fan of the King of Rock 'n' Roll.
"I remember talking to my father about Elvis," said Stamos. "I said, 'Dad, you got to get hip to this guy,' and he was like, 'I know who he is, but you have to listen to Frank Sinatra.' So I made my dad listen to Elvis and I listened to Frank Sinatra and we both became great fans."
Stamos' mother also shared his love of Elvis, and she even got to guest star on an episode of Full House in which Stamos' character Uncle Jesse donned an Elvis costume.
"I have great pictures of me and my mother when I was dressed like Elvis," said Stamos.
In addition to leading the lighting ceremony, Stamos is currently the "Voice of Graceland" on the mansion's iPad tours.
"You really do feel his presence," said Stamos.
Fans can catch Stamos on TV this winter when he guest stars on ABC's Galavant, set to premiere Jan. 4.