Ex-Dallas Stars center Modano, the highest-scoring U.S.-born player in NHL history, made the Hall of Fame as a player along with Olczyk, a former Chicago Blackhawks player and current television analyst who has become a staple of NBC's broadcasts of the NHL.
Lamoriello, meanwhile, was inducted as a builder, assembling three Devils Stanley Cup winners during 24 seasons as the team's chief executive/president/general manager of the Devils.
"What a remarkable class," Ron DeGregorio, president of USA Hockey, said in a statement. "The positive impact this group has had on our sport is one that will be felt for decades to come."
Modano, who retired 10 months ago, played 20 of his 21 seasons with the Minnesota North Stars/Dallas Stars franchise, and is the team's all-time leader in games played (1,459), goals (557), assists (802) and points (1,359).
Olczyk, meanwhile, compiled 342 goals and 794 points in 1,031 games with the Blackhawks, Toronto, Winnipeg, New York Rangers, Los Angeles and Pittsburgh.