Tragic Grateful Dead frontman Jerry Garcia and his frequent collaborator Robert Hunter will also be feted, as will country songwriter/producer Bobby Braddock and late blues star Willie Dixon.
Songwriters Hall of Fame President & CEO Linda Moran says, "Our 2015 lineup of inductees represents the rich diversity of American musical styles - Rock, Country, Blues and Pop - that have captivated the world over the past six decades. Each one of these brilliant music creators have written instantly recognisable classics, songs that are both of their time and timeless."
The Class of 2015 will be honoured at the organisation's 46th annual Induction and Awards Dinner in New York City on 18 June (15).
Gloria Estefan and Kenneth 'Babyface' Edmonds were among the artists who missed out on inductions after being shortlisted for the honour in October (14).
The Songwriters Hall of Fame features the likes of Hal David and Burt Bacharach, John Fogerty, Bob Dylan, Carole King, Paul Simon, Brian Wilson, Bruce Springsteen and Leonard Cohen.