The induction ceremony will take place March 13 in New York.
In the non-performer category, A&M Records founders Herb Albert and Jerry Moss will receive a lifetime achievement award, MTV.com reported. The label founded in 1962 became one of the most successful independent labels worldwide, boasting hits by Peter Frampton, the Police, Joe Jackson, the Neville Brothers, Cat Stevens and Alpert's group, the Tijuana Brass.
Artists are eligible for election into the Rock Hall of Fame 25 years after the release of their first record.
2014: The Year in Music [PHOTOS]