Country legend Dolly Parton had been trying to get herself removed as a nominee but will be honoured at the ceremony in Los Angeles on November 5.
Eminem, Duran Duran, Lionel Richie, Pat Benatar, Eurythmics and Carly Simon will also be inducted into the Performers category.
John Sykes, chairman of the Rock and Roll Hall of Fame, said in a statement: "This diverse group of inductees each had a profound impact on the sound of youth culture and helped change the course of rock and roll.
"Their music moved generations and influenced so many artists that followed."