The bash, at London‘s Alexandra Palace on 16 November, will feature performances by Alanis Morissette and The Pretenders, reports the BBC.
A panel of 60 broadcasters, artists, journalists, and industry executives have selected the bands.
Artists can be of any nationality as long as they have had success in the UK.
Last year’s induction ceremony saw The Beatles, Michael Jackson, Madonna, Bob Marley, Elvis Presley, Queen, Cliff Richard & The Shadows, The Rolling Stones, U2 and Robbie Williams become the inaugural members of the UK Music Hall of Fame.
This year’s ceremony will be broadcast on Channel 4 on 17 November, and will also feature New Order, who received the NME Godlike Genius Award earlier this year, performing the Joy Division classic ‘Love Will Tear Us Apart’.
Former Guns N’ Roses guitarist Slash will also lead a supergroup in a performance to honour legendary guitarist Hendrix.
The late DJ John Peel will receive 2005’s Honorary Membership in acknowledgement of his exceptional contribution to UK music.
DJ and TV presenter Dermot O’Leary will present the induction ceremony on Channel 4.