"I know you don't want to be called a hero, but I look at you as an American hero," the NBA player told Shaw.
"When I sit down with my kids and I sit down and talk to them about role models and who I want them to look up to, I tell them to go look up James Shaw Jr.," Wade said.
The surprises for Shaw didn't stop there. Wade then presented Shaw with a check for $20,000.
Earlier in the show, Shaw recounted the events that unfolded at the Waffle House on April 22.
"You see him reloading and you think, that's my chance to go at him?" said Ellen DeGeneres.
"Yes, I had a voice in my head that said 'do it now, do it now,'" Shaw said.
The encounter left Shaw with a burn on his hand and a wound on his elbow where a bullet grazed it.
"Wow, you're a brave man," said DeGeneres. "You're a really brave man."
DeGeneres then presented him with another check, this one for $225,000, which included money raised for him on a GoFundMe account and