Vettori is one of seven new additions.
He is joined by an all-star cast of Hashim Amla and Graeme Smith (South Africa), Matthew Hayden (Australia) and Mahendra Singh Dhoni (India), as well as Pakistan women’s international Sana Mir and England wicketkeeper-batter Sarah Taylor.
The seven players were inducted during the "A Day with the Legends" event.
ICC chairman Jay Shah said the Hall of Fame induction was a way to "pay tribute to the finest players the game has seen, individuals whose remarkable careers have shaped cricket's legacy and inspired generations".
"This year, we are privileged to induct seven truly outstanding individuals into this prestigious group.
"I extend my heartfelt congratulations to each of them and hope they cherish this well-deserved recognition as a defining moment in their cricketing journey."
The ICC Hall of Fame was launched in January 2009 as part of the ICC’s centenary celebrations.
Vettori stands out not just as one of New Zealand’s greatest spinners, but one of the country’s greatest players.
The left-arm spinner took 362 wickets at an average of 34.36 in 113 tests.
He slapped, swatted and sliced his way to 4531 runs at an average of 30 with his unorthodox batting style.
The 46-year-old played 295 ODIs for his country (2253 runs at 17.33 and 305 wickets at 31.71) and 34 T20s (205 runs at 12.81 and 38 wickets at 19.68).
He is the youngest man to play test cricket for New Zealand (18 years and 10 days) and became an invaluable part of the squad for a decade and a-half.
Vettori is one of just three players to achieve a double of at least 4000 runs and 300 wickets in tests.
He was thrilled with his induction.
"Looking at the past inductees of the ICC Hall of Fame, one can see the outstanding talent and contribution they made to the growth and popularity of the game," Vettori said.
"To gain recognition alongside them is simply overwhelming and I can’t find words to describe the feeling."
