Grandmaster Flash is the first rap artist to be inducted in the institution’s 21-year history.
The artists will be honoured at a ceremony on March 12 held at the Waldorf-Astoria Hotel in New York City. Artists set to play will be confirmed nearer the time.
To be eligible for induction, artists must have released their debut album at least 25 years ago.
Ahmet Ertegun, founder of Atlantic Records, will also be honoured, posthumously, following his death at the end of last year.
The Rock And Roll Hall Of Fame is located in Cleveland, Ohio and began annually inducting artists and influential members of the music community in 1986.
–By our Los Angeles staff.