The IIHF says the former Olympic and world champions will be inducted in Stockholm in May when their home country hosts the world championship.
Two Canadians will also be inducted: Paul Henderson, star of the 1972 Summit Series against the Soviet Union, and Danielle Goyette, a two-time Olympic champion.
Teppo Numminen of Finland, a three-time Olympic medalist, was the fifth player chosen.
The governing body also selected its former general secretary, Jan-Ake Edvinsson of Sweden, and Canadian broadcaster Gord Miller for induction.
The IIHF is also dedicating a special award to the Soviet Union team that won the inaugural world championship in 1954.