They were presented by Hall of Famers Jimmy Connors and Monica Seles, respectively.
Connors said Safin was "emotional and played with passion. That's what drew me to him."
Safin, Henin, Connors, and Seles taken for the stadium walk by ITHF President Stan Smith. Amazing ceremony today! pic.twitter.com/KvAhtyWJjM— Tennis Hall of Fame (@TennisHalloFame) July 16, 2016
Seles touched on Henin's classic one-handed backhand, calling it "without question one of the signature shots in tennis history. To be honest, I hated it."
Safin is the first player inducted into the hall from Russia, and Henin is the first from Belgium.
Amelie Mauresmo, inducted last year, also was honored Saturday. She missed the ceremony in 2015 ahead of the birth of her first child.