The Sorcerer Mickey Hat was introduced as part of the 100 Years of Magic Celebration, commemorating the 100th birthday of Walt Disney. The Sorcerer Hat became the new symbol for Disney's Hollywood Studios, taking on a role similar to Cinderella Castle in the Magic Kingdom and Spaceship Earth in Epcot.

The Sorcerer Hat was built in the courtyard at the end of Hollywood Boulevard that loosely serves as the park's central hub, thus making it visible to guests as they enter the park. (This is an improvement over the Mickey Water Tower, or Earffel Tower, that was the original icon for the Disney's Hollywood Studios. It's location in the back of the park makes it harder to see.)