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Magic Johnson Yachts of Fun In Ibiza!!! ... W/ Samuel L. And Cedric The Entertainer

It's that time of the year once again -- Magic Johnson is exploring Europe with his A-list pals this week ... enlisting Samuel L. Jackson and Cedric the Entertainer for the festivities!!

The 64-year-old Hall of Famer and his wife, Cookie, have been documenting their whole trip on social media ... raving about their time in Ibiza, which has included feasting on lobster and sea bass and cruising on a luxurious yacht.

The gang made their way around the Mediterranean Sea on a smaller boat as well ... and judging by the pics, the vibes were at an all-time high.

It's become quite the tradition for the Lakers legend ... as the vacation has been a thing for more than a decade at this point.

Other attendees in the past included names like LL Cool J and Rodney Peete ... but it's unclear if those guys will be joining in on the fun at a later date.

No word on how much it costs to rent their yacht of choice this year ... but Magic's been known to drop hundreds of thousands of dollars a week to ride in style -- so we take it that's the case again.

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