Paterno is recovering from surgery to repair torn knee ligaments and a broken leg and doctors said he must limit travel for six weeks. He was to be inducted into the hall and receive the National Football Foundation's 2006 Gold Medal in ceremonies Dec. 5.
He, Florida State Coach Bobby Bowden and 13 players were to be enshrined in the National Football Foundation & College Hall of Fame at that time.
"Being honored with my good friend Bobby Bowden and receiving the highest honor of this special organization means a great deal to me," said Paterno. "I was looking forward to being in New York and spending time with Bobby, his wife Anne and their kids, Sue and our kids. I know that Dec. 5 will be a special evening and we'll look forward to sharing in that next year."
The Hall of Fame said Paterno would be formally inducted during its 2007 ceremonies. He and Bowden will still be given their Gold Medal next month, however.