Nirvana and Peter Gabriel are among the acts set to be inducted into the US Rock and Roll Hall of Fame in 2014.
Kiss, Hall and Oates, Peter Gabriel, Linda Ronstadt and Cat Stevens will also be elevated to the elite musical club at a ceremony next April.
Nirvana win their place in the Hall of Fame at the first point of eligibility, 25 years after their first release.
Former Beatles manager Brian Epstein, who died in 1967, will also be honoured for his life's work.
Andrew Loog Oldham, who propelled the Rolling Stones to worldwide fame, will also win an award for his contribution to the music industry.
US group the E Street Band, known for their collaborations with Bruce Springsteen, are also being inducted into the Hall of Fame through a musical excellence award.
Seattle grunge rock act Nirvana rocketed to fame in the early 90s with a series of hits including Smells Like Teen Spirit and Come As You Are.
They released just three full-length studio albums before frontman Kurt Cobain's suicide in 1994 aged 27.
With record sales at an estimated 75 million, they are one of the best-selling rock acts in music history.
British musician Peter Gabriel was already inducted in 2010 as a member of rock band Genesis, while Cat Stevens - now known as Yusuf Islam - has been nominated for the honour in the past.
Ronstadt, whose career encompasses rock, mainstream pop and country music, announced earlier this year that her singing career was at an end due to the effects of Parkinson's Disease.
Kiss are known for their extravagant rock performances, trademark black and white stage make-up and costumes, while songwriting and performance partnership Darryl Hall and John Oates have scored six US number hits in their career.
This year's inductees were selected by more than 600 music industry personnel from a longlist of candidates, whose first work must have been released at least 25 years ago.
Meanwhile, the Television Academy Hall of Fame has announced six new inductees for next year.
US talk show host Jay Leno, actress Julia Louis-Dreyfus and media mogul Rupert Murdoch will be honoured at a ceremony in Los Angeles on 11 March.
Writer and producer David E Kelly, network executive Brandon Stoddard and inventor of the noise reduction system, Ray Dolby, will also be feted at the event.
Golden Globe winner Louis-Dreyfus has bagged two nominations for next year's awards ceremony, for her roles in movie Enough Said and television series Veep.