Late Beatle George Harrison, Prince and ZZ Top were among those who were inducted into the Rock and Roll Hall of Fame in New York on Monday.
Prince performed a medley of hits
Rock singer Bob Seger and R&B outfit The Dells were also honoured.
Harrison, who died of cancer in November 2001, is already in the rock hall as a member of the Beatles.
Prince performed a medley of hits at the ceremony, which was also attended by Sir Mick Jagger, Alicia Keys and George Clinton.
"I embarked on a journey more fascinating than I could
ever imagine, but a word to the wise to the young artists -
without spiritual guidance too much freedom can lead to
spiritual decline," said Prince.
After a career dotted with disputes with record labels, Prince also offered some advice to young artists, "a real friend and mentor is not on your payroll," he said.
George Harrison died of cancer in 2001
Artists are only eligible to be inducted into the Hall of Fame after at least 25 years have passed since their first record was released.
Harrison's son Dhani was at the ceremony to perform his father's song While My Guitar Gently Weeps, alongside Tom Petty and Jeff Lynne, who were members of the Travelling Wilburys with the ex-Beatle.
Harrison's former bandmates Sir Paul McCartney and John Lennon are already in the Hall of Fame for their solo work.
Folk singer-songwriter Jackson Browne was inducted into the Hall of Fame by Bruce Springsteen, who called him "a bona fide rock 'n' roll sex star".
Steve Winwood's band Traffic were also inducted at the ceremony at the Waldorf Astoria hotel.
Seger, who was introduced by Kid Rock, has said the best part of being inducted into the hall is not having to explain why he is not in it - the singer-songwriter said it is one of the top questions fans ask him.
The co-founder of Rolling Stone magazine, Jann Wenner, was also honoured for lifetime achievement in the non-performer category.
The Rock Hall of Fame, based in Cleveland, Ohio, has existed since 1983, and has honoured artists including The Beach Boys, Neil Young, The Clash and Elvis Presley.