"Today we honour Tim Minchin, a very talented artist, who has not only contributed to the cultural fabric of our State and our nation, but whose work has also received international acclaim," Sandra Chipchase, Destination NSW chief executive officer, said in a statement.

"It's fitting that Tim Minchin joins the likes of Cate Blanchett, Geoffrey Rush, John Bell AO OBE and Jacki Weaver, who are among the 21 legends of Australian stage and screen whose achievements have been recognised through individual plaques set into the paving stone around Walsh Bay," she added.

The walk, a feature of the Walsh Bay Arts Precinct at Pier 2/3, is located near the Sydney Theatre Company, Sydney Dance Company, Australian Theatre for Young People and Bangarra Dance Theatre.

Minchin co-wrote Matilda The Musical, which won seven 2012 Olivier Awards, including Best New Musical, and received 12 Tony Award nominations, including Best Score. 

Matilda the Musical will open at the Sydney Lyric Theatre in 2015.