Guns 'N Roses and Joan Jett and the Blackhearts are among the first-time nominees up for the 2012 Rock and Roll Hall of Fame induction.
They make up the list of 15 acts who released their debut album or single at least 25 years ago.
Other acts in the running for the honour are Eric B. & Rakim, The Cure, The Small Faces and The Spinners.
Previous nominees that have been shortlisted again this year include The Beastie Boys, The Red Hot Chili Peppers, Donovan, Donna Summer and War.
"The 2012 Nominees embody the broad scope of what 'rock & roll' means,' said Joel Peresman, President and CEO of the Rock and Roll Hall of Fame Foundation. 'From vocal groups to hip-hop, from singer-songwriters to hard rocking artists, this group represents the spirit of what we celebrate at the Rock and Roll Hall of Fame.'
Many bands, including Led Zeppelin and the Police, have put aside long-standing feuds to perform at the Rock and Roll Hall of Fame induction ceremony. It is hoped this will be true for Guns 'N Roses if they make it in.
Joan Jett and the Blackhearts' 1981 hit, I Love Rock and Roll, is still regarded as a rock classic.
Jett herself is considered an icon for women who were trying to crack into the male-dominated world of rock and roll.
Jett's incredible rise into the music industry with her first band The Runaways was made into a film starring Kristen Stewart and Dakota Fanning.
Every year The Rock and Roll Hall of Fame Foundation chooses the artists it deems the most influential to enter the Hall of Fame.
Inductees include legendary performers such as Elvis Presley, The Beatles and Michael Jackson.
Last years' inductees included Alice Cooper and Tom Waits.
The successful new members will be inducted on April 14 next year.
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