The star was introduced by comedian-actor Jimmy Fallon, at the Cannon Center in Memphis, Tennessee, reports aceshowbiz.com.
The singer-turned-actor got emotional during his acceptance speech and said: “I am truly honoured to be able to stand on the shoulders of all these legends that I grew up listening to and I grew up admiring to say that I stand alongside them now.”
“This is the f*cking coolest thing that has ever happened to me,” he added.
Timberlake also compared it with the Grammy and Emmy awards.
“The Grammys are political. The Emmys are political. Memphis is not political. And don’t get me started on Hollywood,” he said.
The Memphis-born musician also paid tribute to his root.
“My favorite part about this city is we don’t apologize for who we are, and that’s who this city has taught me to be,” he said.
Decked out in a Tom Ford suit, Timberlake collaborated with R&B icon Sam Moore on “Sittin’ on the Dock of the Bay”.