The Naismith Memorial Basketball Hall of Fame made the announcement on Saturday at NBA All-Star Weekend in New Orleans.
Four players, seven coaches, one referee, one contributor and one team are finalists from the North American and Women's committees to be considered for election in 2017.
Other finalists include Rollie Massimino, who coached Villanova to the 1985 NCAA championship, NBA referee Hugh Evans, Connecticut star Rebecca Lobo, Baylor women's coach Kim Mulkey, Kansas coach Bill Self and two-time NBA champion coach Rudy Tomjanovich.
Previous finalists returning to the ballot include point guard Hardaway, record-setting high school coach Robert Hughes, Notre Dame women's coach Muffet McGraw, former Wisconsin coach Bo Ryan and 10-time AAU national champion Wayland Baptist University.
"We are grateful to the 14 finalists in the Class of 2017 for the impact they have had on the game we cherish," said Jerry Colangelo, chairman of the Naismith Memorial Basketball Hall of Fame. "To be named a Finalist for the Basketball Hall of Fame is an incredible accomplishment and we are proud to honor those who have shaped our game over the years.
"The Honors Committee now has the challenging task of selecting this year's enshrinees and we look forward to making the announcement at the NCAA Final Four in Arizona this April."
Webber played 15 seasons with five NBA teams and was part of Michigan's famed "Fab Five" group in the early 1990s.
"I don't know what I'm most proud of," said Webber, who averaged 20.7 points and 9.8 rebounds in his career and was a five-time NBA All-Star. "I'm proud to be in the room with all these great individuals."
The 82-year-old Massimino is still coaching at NAIA school Keiser University in West Palm Beach, Fla.
Enshrinees will be announced at the Final Four on April 3 and the induction ceremonies in Springfield, Mass., are set for Sept. 7-9.