Jordana Brewster, Paul's Fast & Furious co-star, shared some heartfelt words about the handsome actor, which were followed by a touching montage of his previous roles.
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"This past November, tragedy struck when Paul Walker's life shockingly ended. The immense outpouring of grief around the world was a reflection of the kind of man Paul was," Jordana began by saying.
"He was so, so special. I was lucky enough to work with him over the last 15 years and witness the generosity of his heart every day I was with him. He was humble, he thought about others. Whether you knew Paul for five minutes or a close friend, he made you feel like the most important person in the world."
She continued, "For Paul, every day was an adventure to be tackled and he wanted to make a difference in this world. Whether he was tagging great white sharks for research or helping victims of natural disasters through his organisation Reach Out Worldwide, Paul's kindness was pure. He never asked for credit or glory. He was just a really good guy.
Paul Walker and Jordana Brewster in action together in Fast & Furious 5
"His charm, wit, spirit and his beautiful smile will live because he will always be on our hearts and he will remain an inspiration to live life to the fullest."
Also remembered at Sunday's ceremony was Philip Seymour Hoffman, who passed away in February at the age of 46.
Philip's Hunger Games co-star Josh Hutcherson, 21, took to the stage at the Nokia Theatre in LA with Sam Claflin to accept the Movie of the Year award on behalf of the whole cast. And after thanking the crew and fans, he spent some time speaking about the late star, who played Plutarch Heavensbee in the franchise.
"It was so cool to have Philip on our movies," Josh said. "He's one of the actors I've looked up to my entire life.
"I know if Philip were here he would think this was really cool… We think about him every day on set, so wherever he is, this goes out to him too."
Philip Seymour Hoffman as Plutarch Heavensbee in the Hunger Games