Colbert started the 20-minute interview by asking Eminem if he made music that was "more like Bone Thugs N Harmony or Will Smith".
"I like Bone Thugs and Will Smith ... somewhere in the middle," Eminem replied.
Colbert also asked Eminem if he had "feat'd" on anyone else's records, asked him to spread an anti-swearing message among the rap community and played a video of cats fighting instead of the trailer for the new movie Southpaw.
He also asked Eminem, one of the most successful rap artists in history, if he "had plans for when the dream dies".
Eminem replied: "I'm so confused right now ... I'm trying to figure out if you're serious ... I've put out, like, quite a few albums."
The mock-awkwardness reminds of the series Between Two Ferns - and there seemed to be a nod to the Zach Galifianakis web series with a fern in the middle of Colbert's low-budget set.
While it's likely Eminem was in on Colbert's joke, previous TV appearances haven't gone so well.
Colbert is set to take over from David Letterman on The Late Show in September.
- nzherald.co.nz