Douglas, 74, best known for his Oscar-winning turn as Gordon Gekko in “Wall Street,” was accompanied by his father - star of 1960 gladiator movie “Spartacus” - his actress wife Catherine Zeta-Jones and “The China Syndrome” co-star Jane Fonda.

“When I first heard Michael was getting a star I thought, ‘What took so long?’ Especially because he has always been ahead of his time,” Fonda said at a ceremony marking the occasion.

Douglas has appeared in more than 60 films and television shows, including 1970s police series “The Streets of San Francisco,” psychological thrillers “Fatal Attraction” and “Basic Instinct,” and more recently the Marvel comic book movie “Ant-Man.”

Fonda, daughter of Henry, said she and Douglas both faced the challenge of being born into Hollywood royalty and trying to find their own way in the same world.

“Both of our fathers were movie legends,” she said. “Can you imagine Michael heading out to go to an audition and Spartacus is sitting at the table?”

Douglas is also a film producer, winning an Oscar for the 1975 film “One Flew Over the Cuckoo’s Nest” and producing dozens of independent movies.

“I have been lucky enough to be part of classic Hollywood and new Hollywood,” he said.

He said he was honored to join the more than 2,600 men and women represented on the Walk of Fame: “They are people who passionately cared about what they did and about entertaining people around the world.”