The 51-year-old rocker's tribute was unveiled yesterday in front of the Musician's Institute on Hollywood Boulevard in Los Angeles.
The 'Summer of '69' singer is thrilled to get the honour, and admitted he would often admire the Walk of Fame in his younger days but never dreamed that one day his own name would be on it.
At the ceremony, the Canadian star said: "I remember being in Hollywood at the age of 16 and marvelling at the stars.
"The idea of being part of it never entered my mind. It was too far-fetched. Today, I'm humbled at the induction of my name. It's fantastic."
The Grammy Award-winning musician – who is expecting his first child with his partner, his personal assistant Alicia Grimaldi, in May – was watched by fellow Canadian and champion hockey player Wayne Gretzky as he was presented with the 2,435th star.
Wayne was delighted to see his friend receive the accolade but he was less than impressed with the rainy weather on the day.
The sportsman said: "This is typical. I've been to an outdoor concert of Bryan's where it was pouring rain and watched him perform his magic.
"[Bryan is] a very humble Canadian. I'm very proud to say he's Canadian."
However, the '(Everything I Do) I Do It for You' hitmaker was prepared for the wet weather.
On Sunday he tweeted: "Gonna bring my surf board to the ceremony tomorrow just in case the rain continues."
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