Sir Paul McCartney attended the unveiling outside the landmark Capitol Records building, joining Harrison's widow Olivia and son Dhani.
Olivia paid tribute to her late husband, describing him as "a beautiful, mystical man living in a material world".
Harrison, the youngest of the Beatles, died of lung cancer in 2001 aged 58.
Other stars including Monty Python actor Eric Idle, Oscar-winning actor Tom Hanks and musician Tom Petty attended the ceremony.
Idle described the Beatle as a "remarkable person" with a "wonderful sense of humour".
Sir Paul McCartney attended the unveiling with Harrison's wife, Olivia Hanks also addressed the hundreds of fans that turned up for the event.
He said: "George Harrison held the future in the guitar in his hands and it had six strings. Let us thank Leo Fender, who brought electricity to music.
"Let us thank them all for bringing us George. Every record was an event, every cut was an opera, the entire story told ours. All things must pass, sure. But George is going to live forever."
Harrison is the second Beatle to be honoured individually on the Hollywood Walk of Fame.
He already shares a star with the rest of the group, but only he and John Lennon – who was also posthumously awarded a star in 1988 – have their own.
Sir Paul has been approved for a star, but no date has been fixed yet for a ceremony.