The fifth Australian and the first female Australian player to be inducted, the ceremony will be held on August 27 in Geneva and Mies, Switzerland where Timms will be honoured alongside other famous names including NBA commissioner David Stern and NBA player Hakeem Olajuwon.
One of the original players to be inducted as a life member of the WNBL, Timms played 285 games while winning four championships.
She was also named in the All-Star team seven times from 1988–92, 1994 and 1996 as she spent years with Bulleen, Nunawading, Perth and Sydney.
In the league's current form, she is honoured with the Michele Timms Cup which is awarded to the winner of each Melbourne derby between current sides Melbourne Boomers and Dandenong Rangers.
The guard became a trailblazer for Australian female basketball when she led the charge into Europe and the WNBA. She was the first Australian basketballer to play professionally in Europe, representing Lotus München in Germany while she also played for Phoenix Mercury in the USA.
Timms' performance on the international stage is etched into the history books as she captained the Opals to their first ever Olympic medal, a bronze in 1996. Her 264-game career for the Opals included a second medal, a sliver at the 2000 Olympics in Sydney and she is now devoting her time to the game from the sidelines.
Beginning her coaching career with the NBL club South Dragons in 2007, Timms is working as an assistant coach with the Chinese women's basketball team as they aim to qualify for the 2016 Olympics where the Opals are aiming for a fifth consecutive medal as they continue the legacy that Timms helped create.