Magic Johnson Kicks Off Yacht Vacation W/ Cedric The Entertainer, Samuel L. Jackson

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.

MAGIC JOHNSON'S FAMILY VACATION -- YACHTS OF FUN!

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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.