The 38-year-old Academy Award winner said she was honoured to get the star - the 2,427th on the world-famous Tinsel Town stretch - thanking her family and friends and praising Los Angeles.
'I feel so honoured to be getting this star on the Walk of Fame,' Paltrow said. 'The idea that my grandchildren can one day come and see my name on the sidewalk is very overwhelming.
'This city is so much a part of my heart and soul.'
Paltrow praised her family for supporting her.
'I don't think I would be here were it not for my family and old friends,' she said.
The ceremony was held in connection with the January 7 release of Paltrow's latest film, Country Strong.