Will Ferrell serenades USC's Class of 2017 with Whitney Houston's 'I Will Always Love You'

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Will Ferrell took to the podium as the University of Southern California's commencement speaker on Friday -- and you better believe he did it in epic fashion. After the "Step Brothers" actor gave the Class of 2017 some words of wisdom, he ended his 25-minute speech by serenading them with Whitney Houston's "I Will Always Love You."

The actor peppered his speech with some hilarious jokes, like this one aimed at Donald Trump:

"I'm still waiting to get paid by Trump University. In fact, it turns out I owe Trump University money for the honor to speak at Trump University," Ferrell, 49, quipped.

The actor graduated from the prestigious university in 1990, and he received a honorary doctorate ahead of Friday's ceremony. The prestigious honor is one that Will obviously takes very seriously:

"I've already instructed my wife and my children from this point they have to address me as Dr. Ferrell," Ferrell told the crowd. "There will be no exceptions, especially at our children's various school functions, and when opening Christmas presents."

All jokes aside, the comedian also managed to share some serious bits of advice, including what success means to him. Surprisingly, it has nothing to do with his super successful acting career:

"To me, my definition of success is my 16-and-a-half year marriage to my beautiful and talented wife, Vivica. Success are my three amazing sons ... no matter how cliche it may sound, you may never truly be successful until you learn to give beyond yourself. Empathy and kindness are the two signs of emotional intelligence."

But of course -- the moment everyone's waiting for -- his incredibly impressive serenade:

This was definitely a commencement speech to remember!