The Zoolander star followed in the footsteps of previous winners Robert Downey Jr., Julia Roberts and Al Pacino when he was presented with the award at the Beverly Hilton Hotel in Beverly Hills, California.
The star-studded event was attended by Stiller's actress wife, Christine Taylor, his Along Came Polly co-star Jennifer Aniston and her partner Justin Theroux, as well as long-time acting pals Will Ferrell and Jack Black.
Stiller tells E! Online, "It's really nice to be asked to be honoured like this. It's kind of bizarre. I feel grateful but also unworthy of the whole thing."
Jennifer Aniston's boyfriend Justin Theroux has channelled Al Pacino's New York City cop character in Serpico for a new magazine shoot. The actor, who sported a thick beard for the GQ spread, poses with a gun at a shooting range and rides a motorcycle in scenes similar to those from the 1973 movie.