Tyrese Gibson is honoring his pal’s legacy in the fast lane … announcing nearly $1 million has been raised in honor of his late “Fast & Furious” costar Paul Walker‘s charity.

Tyrese hit the stage with Paul’s brother Cody at FuelFest in West Palm Beach, FL, over the weekend … telling the 20,000-plus crowd that Paul’s nonprofit, Reach Out WorldWide, had officially surpassed the $1M milestone.

TMZ has learned that Tyrese got a little bit ahead of it … but they have nearly reached $1 million! The org is confident they’ll cross the full mark by year’s end … after seven years of steady fundraising.

Paul founded Reach Out WorldWide back in 2010, creating a disaster-response organization aimed at getting skilled volunteers to places devastated by natural catastrophes … inspired by the deadly earthquake in Haiti that year. ROWW remains active in disaster responses all over the world.

FuelFest is a global car festival that was founded by Paul’s brother Cody, with a portion of the proceeds benefiting ROWW.