Premier League Hall of Fame: Alan Shearer and Thierry Henry are first inductees
Shearer is the league's all-time top scorer having netted 260 goals for Blackburn and Newcastle between 1992 and 2006, while he lifted the title with Rovers in 1995.
Henry was a four-time winner of the Golden Boot award, given to the top scorer in a season, and netted a club-record 175 Premier League goals in 258 matches for Arsenal.
The Frenchman won the league title twice and was a key member of the 'Invincibles' team that went unbeaten through the 2003-04 campaign.
Shearer said on premierleague.com: "When you look at some of the unbelievable players to have graced the Premier League, I feel very honoured to join the Hall of Fame. I have to thank all of my team-mates, as well as the managers and coaches that I've worked with.
"All I ever wanted to be was a professional footballer. It was my dream to do that, my dream to win trophies and my dream to score at St James' Park, to wear the number nine black-and-white shirt and it was fantastic. I enjoyed every minute of it."
Henry added: "To be inducted alongside Alan Shearer as the two first inductees into the Premier League Hall of Fame is more than special. When I was young, I was just trying to make sure I could get a pair of boots, and now we're talking about the Hall of Fame."
A further six inductees will be selected by a fans' vote from 23 nominees announced on Monday evening. Voting will be open until May 2.