"I have never had such a nervous day in my life," said the tanned and svelte Stewart, 60, who is facing fatherhood anew.
Flanked by his pregnant fiancee Penny Lancaster, Stewart danced a jig atop his sidewalk star on Hollywood Boulevard.
"I haven't prepared a speech. I'm here to wing it like I have my entire life," said the rock star-turned-classic pop crooner.
Stewart was praised by friend Larry King, who addressed the gathering.
"He's one of my favorite guests. He's one of my favorite people," the CNN host said.
Over his 40-year musical career, Stewart has churned out multiple raspy-voiced rock hits, including "Forever Young," "Do Ya Think I'm Sexy?" and fan favorite "Maggie May."
Born in London, he initially pursued a career as a professional soccer player and also worked as a gravedigger.
In the early '60s, Stewart joined folk singer Wizz Jones before gaining popularity with the Jeff Beck Group and its first album "Truth" in 1968.
He fronted the British rock band the Faces in the '70s and went solo in 1976.
After his rock career waned, Stewart rebounded three years ago with a surprising collection of '30s and '40s pop standards — a platinum-selling success.
His 2004 album "Stardust ... The Great American Songbook Volume III" won him his only Grammy.
Stewart releases his fourth in the series, "Thanks for the Memory ... Great American Songbook IV," this month.
But the father of six — linked over the years with various blonde beauties including Rachel Hunter — recently told The Associated Press he will take some time off.
"I'm going to be a dad again," he told the crowd.