Ex-wife Demi Moore and her new husband Ashton Kutcher were on hand, as were Ben Affleck, Kevin Costner, Sylvester Stallone, Don Johnson and Billy Bob Thornton. The Emmy-winning actor's children also attended the dedication ceremony.
"I used to come down here and look at these stars and I could never quite figure out what you were supposed to do to get one," Willis said. "Time has passed and now here I am doing this, and I'm still excited. I'm still excited to be an actor."
The Willis star, the 2,321st implanted on the Walk of Fame, was unveiled on Hollywood Boulevard in front of Grauman's Chinese Theatre on the eve of the DVD release of "Over the Hedge." Willis was the voice of RJ the raccoon in the animated film.
Willis, who won an Emmy for his role in the 1985-1989 ABC-TV series "Moonlighting," may be best known for his portrayal of Detective John McClane in the "Die Hard" movies. Another sequel, "Live Free or Die Hard," will be released June 29.
His other film credits include "The Sixth Sense," "Pulp Fiction," "Twelve Monkeys" and "The Jackal." Willis' latest film, "Fast Food Nation," in which he plays an unscrupulous farmer, is scheduled for release Nov. 17.