The Memphis Commercial Appeal said the 73-year-old rock 'n' roll icon was on hand with his daughter Phoebe Lewis and manager J.W. Whitten when the House of Representatives announced the resolution Monday night.
The vote was 95-0 in favor of the bill, following a 33-0 vote in the Senate, The Appeal said.
The street-naming bill is intended to pay tribute to Lewis' "countless contributions (that) were recently recognized when he was named by the Rock and Roll Hall of Fame and Museum and Case Western Reserve University as an American Music Master," the newspaper said.
"I'd just like to say thank you very much and God bless you. It's not every day you get a street named after you. I think it's a great honor. It's a privilege to be here and God bless each and every one of you," Lewis said.
2014: The Year in Music [PHOTOS]