The Ted Lasso star, 46, was seen at Hunt & Fish Club steakhouse and seafood restaurant in New York City's Midtown area on Saturday night, a source tells PEOPLE.
"The entire SNL cast and staff was in attendance as well as other notable celebrities including: Nicholas Braun, Brandi Carlile, Scarlett Johansson, Oscar Isaac, Peter Davidson, Emily Ratajkowski, Fred Armisen," the source says.
Carlile, 40, was the musical guest for the evening, and Braun, Isaac and Ratajkowski participated in sketches during Saturday night's telecast.
Like Sudeikis, Armisen, 54, is a former SNL cast member who also returned to Studio 8H this past weekend.
"The entire cast was laughing, joking and reminiscing about Jason's old SNL skits and time as a cast member," the source says. "Jason floated around the party and chatted with everyone. The night was fun and everyone celebrated another amazing SNL show."
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Sudeikis, who was hired as a writer in 2003 for the long-running NBC comedy revue, went on to star as a cast member from 2005 to 2013.
Saturday marked his debut as host, capping off a season of accomplishments including a double Emmy win (as producer and lead actor) last month for his Apple TV+ comedy series Ted Lasso.
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In his opening monologue, the actor reflected on his journey from starring on the iconic sketch show to becoming an Emmy winner.
"It's so neat to be a small part of this show's amazing history," he said. "A history that was fueled for its first 25 years by cocaine and adrenaline, its next 15 years by Starbucks and unhealthy comparisons, and the last six years by Adderall and fear."
Sudeikis also joked about giving out career guidance while meeting the new writers and cast members backstage.
"It's fun to come back and, you know, be the veteran," he explained. "You know, different folks asking me for advice ... like, 'I love working here, but what should I do next, or how do I get Lorne [Michaels] to notice me?'"
"And honestly, honestly, swear to god, I found myself giving the same advice to every single person," Sudeikis continued. "I was just like, you know, 'Win an Emmy! And if you can, win two!' You know, double up. That's the best way to do it. It sets you up for success."
Saturday's SNL telecast saw Sudeikis reprising many of his iconic characters from his time as a cast member, including now-president Joe Biden, as well as the Devil himself in a cameo appearance during Weekend Update.