"Phil, your monumental talent, your generosity, your unflinching quest for truth both in art and in life will be missed by so many people," the Blue Jasmine star said. "Phil, buddy, this is for you, you bastard, hope you're proud."
Blanchett starred alongside Hoffman in 1999's The Talented Mr. Ripley and attended his private funeral in New York City.
Millions of Getty images now available for free via embed tool
NBC reportedly holds celebs hostage to Jimmy Fallon's show