A source told ESPN.com that it was extremely close with Calipari reaching the 18 votes necessary to get in. The official announcement was made Monday morning in Indianapolis.
Calipari, 56, has taken three different college programs to the Final Four. He took UMass in 1996 and Memphis in 2008, although both were later vacated by the NCAA. He has also taken Kentucky to the Final Four four times in the past five years -- and won the national title in 2012.
He also coached in the NBA for three seasons with the New Jersey Nets.
Calipari will be joined in the Class of 2015 by Dikembe Mutombo, Spencer Haywood, Jo Jo White, WNBA star Lisa Leslie, and longtime NBA referee Dick Bavetta. The Hall had previously announced during NBA All-Star Weekend that John Isaacs, Louie Dampier, coaches Lindsay Gaze and Tom Heinsohn and contributor George Raveling would be inducted.
Candidates needed at least 18 of 24 votes from the Honors committee to be inducted into the Hall of Fame. The enshrinement ceremony is Sept. 11 in Springfield, Massachusetts.