The 'No Problem' hitmaker looked up to the boxing legend - who tragically passed away earlier this month
at the age of 74 from septic shock - as a father figure and so getting to perform a song in his honour at the ESPY Awards earlier this year was a huge deal.
Speaking to Huw Stephens on BBC Radio 1, the Chicago-born MC - whose real name is Chancellor Bennett - shared: ''This whole year has been amazing. My favourite moment is playing a tribute to Mohammad Ali.
''Muhammad Ali was kind of like my dad, I likened him a lot to him, so it hit me really hard when he passed away. 2016 has been a heart-heavy year.''
The 23-year-old rapper - who released his critically-acclaimed album 'Coloring Book' on May 13 - described the tribute as the ''only redeeming factor'' in a year of ''weird legislation and elections''.
He added: ''My favourite moment was playing the ESPYs.
''2016, let's be honest, it kind of sucked, a lot of legends passed away.''
Meanwhile, Chance said his only regret is not being able to marry British singer Jessie Ware, who he met backstage at Glastonbury with Sam Smith.
He said: ''That was the day I met Jessie Ware, who is the most gorgeous woman in the entire world, no joke.
''She is one of the nicest people I have ever met and she just got engaged a couple of months earlier and, honestly, one of my biggest regrets is being as young as I am and not being able to marry Jessie Ware.''
Labrinth has teamed up with Sia and Diplo to form a new supergroup: LSD.
The Struts teamed up with Kesha for a red and gold themed music video as part of their collaboration on 'Body Talks'.
Brody Dalle's band dropped their first new music since 2003's 'Coral Fang'.
Sometimes actors are not acting.