The Smells Like Teen Spirit legends were among the nine acts to make the cut and will officially become part of rock 'n' roll history when they are entered into the fabled hall of fame next April (14).
Foo Fighters star Grohl, who played drums in Nirvana, admits he is delighted by the honour.
He says, "For once... I'm speechless. From the basements, to the dingy clubs, to the broken down vans, to... the Rock and Roll Hall of Fame.
"I'd like to thank the committee not only for this induction, but also for recognising Nirvana for what we were: pure rock and roll. Most of all, thank you to all of the fans that have supported rock and roll throughout the years, and to (frontman) Kurt (Cobain) and (bassist) Krist (Novoselic), without whom I would not be here today."
Novoselic adds, "This is a great honour. Thank you to the people who nominated and voted for us. Thank you most of all to Kurt Cobain. And to everyone who's kept rock music going strong for 60 years and counting."
Kiss, Peter Gabriel, late Beatles manager Brian Epstein, Hall & Oates, Cat Stevens, now known as Yusuf Islam, singer Linda Ronstadt, producer Andrew Loog Oldham and Bruce Springsteen's sidekicks, The E Street Band, make up the other inductees.