The 61-year-old director - who has enjoyed a successful career in front and behind the camera - has been handed the coveted honour in Hollywood, California on account of his contributions in the TV and film industries, reported New York Post.
Howard was supported at the ceremony by his family - including his wife Cheryl and daughter Bryce Dallas - and actor Michael Keaton, whom he has directed in several movies.
The four-time Oscar nominee and two-time winner remains one of the most in-demand directors in Hollywood, having helmed a string of hit movies during his career, including "A Beautiful Mind".