Dressed in classic '90s attire, The Lonely Island started off their performance with Smith's 1988 hit "Parents Just Don't Understand" before transitioning into the "Fresh Prince of Bel-Air" theme song, and "Summertime."
The comedy trio donned black sunglasses as they danced to the the "Men in Black" theme song, and after performing a "mind erase" on the crowd, Samberg suggested playing the aforementioned songs in reverse and at the same time.
"Wait, sorry that was a bad idea, that sounded terrible," Samberg joked. "Let's just end on 'Jiggy.'"
Smith, 47, sat with sons Jaden, 17, and Trey, 23, during the performance, and gave the band a standing ovation at the end.
When accepting his Generation Award, Smith couldn't help but joke that he was receiving an "old dude award." The "Suicide Squad" actor then expressed his appreciation for the support he's received over his 30-year career and explained why acting is so meaningful to him.
"I’m dedicated to being a light in this world. I want to help people. I want to be a light," Smith said. "I want to play roles that have dignity. There’s so much suffering in this world, and I just want you to know I am dedicated ‘til I die to light and to love."