The 54-year-old comedian was awarded the Mark Twain Prize for American Humor at The Kennedy Center in Washington D.C. on Sunday night, where he went after the disgraced Cosby Show actor -- particularly the fact that he accepted this same award back in 2009.
"Who else has one of these?" Murphy asked. "Oh! Bill has one of these. Did you all make him give it back?"
"You know you f**ked up when they want you to give your trophy back," he continued.
Then Murphy went into a dead-on impression of Cosby.
"You may have heard recently that I allegedly put the pill in the people's stomach," Murphy mused in Cosby's voice. "If I ever see or meet this Hannibal Buress in person I am going to try and kill this man!"
Buress, of course, is the stand-up comedian whose viral set about Cosby is widely credited with re-awakening public consciousness about the rape and sexual assault allegations against him.
Murphy's set went over well among the many comedy figures in the audience.
"I like his stand-up," Kathy Griffin told ET, before recalling the time "when Bill Cosby chastised him for being vulgar, Richard Pryor told him to tell Bill to shut the f**k up, and as a stand-up, I love that story."
"If I were Lebron James, he would be Michael Jordan, Richard Pryor was the first," Dave Chappelle told ET of his and Murphy's place in comedy history.
Murphy explained his hesitation in an interview published this month in the Washington Post.
"It’s horrible," he said. "There’s nothing funny about it. If you get up there and you crack jokes about him, you’re just hurting people. You’re hurting him. You’re hurting his accusers. I was like, 'Hey, I’m coming back to SNL for the anniversary, I’m not turning my moment on the show into this other thing.'"
More than 40 women to date have come forward to accuse Cosby of sexual attacks in the past. The 78-year-old has never been criminally charged for any of these allegations and has universally denied all claims.
You can watch Eddie Murphy: The Kennedy Center Mark Twain Prize when it airs on PBS stations on Nov. 23 at 9/8c.