ACHoF chairman David Crow today announced that Thomson and Grout were the selection committee's choice for induction this year.
"Wally Grout was one of Australia's finest wicketkeepers," Crow said of the gloveman, who represented Australia in 51 Tests from 1957 to 1966.
"Luminaries such as Bob Simpson and Wes Hall claimed he was the finest gloveman they had ever seen.
"Wally Grout was the first player in Test history to claim six dismissals in an innings and that remains an Australian record which has since been matched by Rod Marsh, Ian Healy and Adam Gilchrist.
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"But Wally's contribution went beyond immaculate wicketkeeping. He was highly regarded for his honesty, integrity and sense of humour.
"As captain, Richie Benaud relied on Wally for the team's strategy because of his great understanding of the game."
Thomson, still universally referred to as "Thommo", was a terrifying fast bowler with a sling shot action who gained steep bounce to unsettle batsmen and in the process compiled an impressive haul of wickets.
"Only a handful of Australian cricketers had taken 200 Test wickets and Jeff did it at a strike rate of almost four wickets a Test, which is exceptional," Crow said.
Thomson, who played 51 Tests and 50 ODIs between 1972 and 1985, feels the recognition is a reward for all those who helped him during his cricket career.
"It's for my wife and kids, my parents, my brothers, my mates, all those people who took me to cricket when I was young and helped me along the way," Thomson said.
"I got a ring from a mate of my brother's who I hadn't spoken to for 30 years. He was rapt and said how weird it was for a bunch of kids who used to play cricket for hours against a telephone pole that one of us was now in the Hall of Fame."
"I had to work really hard to get back (into the Test side), and I never doubted I was good enough," he said. "I always knew I was going to brain them, I just needed the opportunity.