In the performer category, Heart, Albert King, Randy Newman, Public Enemy, Rush and Donna Summer will receive the prestigious induction. Lou Adler and Quincy Jones will receive the Ahmet Ertegun Award, which is given to non-performers.
A few of those selected to be part of the 2013 group had been nominated before, but none have had the fan support for entry into the hallowed Hall of Fame as first time nominees Rush. The band had been eligible for nomination for the past 14 years.
Member Alex Lifeson told CNN after the group was nominated back in October that the honor meant a great deal to his group's fan base.
"For our fans, it's very, very important, and we feel great for them," he said. "We're at the next stage and we'll see if we're actually inducted. If so, we'll support it in every way we can for our fans."
To be eligible for a Rock and Roll Hall of Fame nomination, artists had to have released their work at least 25 years prior to appearing on the ballot. That means this year's group released their first single in 1987 or earlier.
For the first time since 1993, the Rock and Roll Hall of Fame Induction Ceremony will be held on the West coast. The 28th annual event is scheduled for April 18 and will be held at the Nokia Theatre L.A. in Los Angeles.