Drake has had a big last 24 hours: his "favorite artist" kanye-west" class="autolink">Kanye West took the stage with him at his annual OVO Fest in Toronto, a happening he called "the most important moment in my career to date."

The Young Money rapper and singer talked to MTV immediately following the 4th annual festival date last night (Aug. 5), an action-packed event that also boasted guest appearances from TLC, Diddy and Ma$e.

"I think me and Kanye have wanted to express our respect for each other for a long time and sometimes rap, the business, the competitiveness and just the heart behind it forces you to not talk to the people you quietly admire," he told the network. "Kanye West is definitely a guy that I beyond admire. I have the utmost respect for him."

West took the stage to perform "New Slaves" from "Yeezus," intro'ing: "Me and Hov would've never made 'Watch the Throne' if this n*gga wasn't putting pressure on us like that, so I just wanna pay my respects," he said.

Drake has aimed a few West and Watch the Throne digs in his lyrics before, but there apparently hasn't ever been an all-out beef.

"Kanye West is my favorite artist so it was surreal," Drake later said. "I still look at guys like 'Ye and Jay and Wayne... I'm 26, I've been doing this for four years, so I don't really look at myself on that level. So to hear one of them say something — to hear anybody say something like that, let alone the guy that's pretty much the reason why I started rapping, that was crazy."

Drake is preparing the Sept. 17 release of his next album "Nothing Was the Same." He dropped another new track "All Me" last week and a fresh song "Hold On We're Going Home" leaked and has been making the rounds today.