The 64-year-old actor was joined by Oscar award winners Brie Larson and Jeff Bridges, as well as British star Tom Hiddlestone at the ceremony held on Hollywood Boulevard.
He was honored to close to the star awarded to his former co-star Roseanne Barr. Barr is the creator of the US sitcom 'Roseanne.'
With the International Women's day falling on Wednesday last week, Goodman said on stage, "I would be remiss if I didn't mention the women, without whom I would not be here."
He talked about his mother who had to scrape by on survival wages to raise two kids by herself, and the many teachers who tried to lead him onto the straight path.
He also paid tribute to his daughter Molly, whom he said puts a smile on his face whenever he needs most.
His wife Anna Beth also received a glowing tribute for putting up with "more than a person should have to or need to, but we came out on top."
Brie Larson, who appears opposite both the award-winning actor and Hiddlestone in the new movie 'Kong: Skull Island,' described Goodman as a "father figure."
Brie described Goodman as an incredible father and husband, and a lover of humanity.
Wearing the cardigan worn by his character in the 1998 classic 'The Dude,' Jeff Bridges, who starred alongside Goodman in 'The Big Lebowski,' said that Goodman is the man of our time, and has become a legend.
Goodman was nominated for a Golden Globe seven Emmy's for his role as a working class father, Dan Conner in 'Roseanne,' which aired from 1998 to 1997.
His star is the 2,604th on the Walk of Fame.