Close friend Seth Rogen (who's known Franco since they both starred on the '90s sitcom Freaks and Geeks) and director Sam Raimi (who worked with Franco on Oz and the Spider-Man trilogy) appeared at the ceremony in support of the 34-year-old actor, as he accepted the honor outside of the El Capitan Theatre.
"I've known Franco since he was 16-years-old and it's nice to see that he's done so well," said Rogen. "He's really a great actor."
Raimi insisted that acting is just the tip of the iceberg when it comes to Franco's arsenal of talents.
"James is a teacher, a poet, a sculptor, an actor, a director, a writer, a producer, a basket weaver ... it goes on and on for days," Raimi commented. "It seems like we're always discovering James' next endeavor."
You can catch Franco on the big screen tomorrow, as Oz the Great and Powerful debuts in a theater near you.