The Rebel Yell singer received the lifetime achievement accolade to a standing ovation at the American Music Awards (AMAs), held at the MGM Grand Garden Arena in Las Vegas on Monday night.
The 70-year-old closed the glitzy star-studded ceremony with Eyes Without a Face, followed by Dancing with Myself, his first breakout solo hit back in 1981 after leaving his punk band Generation X.
"I've been able to live my dream, and it's really all because of you," he said, thanking fans after being presented with his award.
"When I started out in punk rock back in 1976, we thought it may only last about six months, let alone 50 years.
"But we were doing it for the love and because music was the only thing that gave us a sort of feeling of freedom, a sense of freedom.
"We believed in what we were doing and we thought maybe if we just dreamed into this life and gave it everything we had it would give it all back to us in spades, and that's exactly what happened.
"So to any kid out there who loves rock and roll or any music of any kind… and if you're inspired to create that sense of freedom and pursue a life of art, then all I can say is pick an instrument, find out who you are and be it."
He then ran to join his band on stage and show the cheering crowd "what a hit song sounds like".
The 52nd awards ceremony was hosted by rapper Queen Latifah with a series of performances from the likes of the Pussycat Dolls, New Kids on the Block and country star Keith Urban.
Artist of the year went to the South Korean boy band BTS, who are back performing after the heartthrob line-up completed their country's mandatory 18-month military service.
They saw off competition that included Taylor Swift, Sabrina Carpenter, Lady Gaga, Harry Styles and Justin Bieber.
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