The Lost Boys star joined comedian Eddie Griffin, actor Mickey Rooney and members of the Jackson family at the Beverly Hilton hotel event, held a day after the first anniversary of the Thriller star's death, and he was in a forgiving mood.
Feldman told attendees that he and Jackson hadn't spoken for the last eight years of the pop star's life and now the actor deeply regrets not taking his phone calls as he attempted to "reach out" and mend their broken friendship.
He said, "Michael and I were friends, really close friends for about 18 years... (but) it was eight years before he passed away that we didn't speak; we had a bit of a falling out and, when we had that falling out, I held a grudge... and eight years passed and suddenly he was gone.
"Michael made efforts to reach out to me during that period of time... I did not. I was holding firm.
"But, what I learned is that forgiveness is the most important thing in this world. I can never ever let go of the fact that I didn't get the chance to say goodbye, or give Michael a hug or tell him again that I loved him, so I'm taking that opportunity right now, to say, 'Michael, I forgive you, I hope you forgive me and I love you.'"