An impressive crowd gathered before the famed historic Capitol Records building to witness the former Beatle receive his honor. Sporting a rock-star leather jacket and hip shades, McCartney accepted the star with his son James and wife Nancy Shevell, which sits firmly alongside the plaques of his fellow Beatles, Ringo Starr, George Harrison and John Lennon.
"I'm a star on the pavement," he exclaimed, telling ET the ceremonious honor made him feel "beautiful."
Neil Young gave McCartney a stirring introduction, while Eagles guitarist Joe Walsh, Elvis Costello, Diana Krall, Herbie Hancock and Traveling Wilburys member Jeff Lynne stuck to the sidelines, watching with pride.
This week marks the 48th anniversary of the Beatles' 1964 performance on The Ed Sullivan Show, which helped to propel the group to enormous fame in America and around the world.