The accolade was established in 1994 to recognize "artists who have achieved worldwide recognition for their work, transcending musical genres and languages".
[2] Potential recipients are nominated by Billboard's editorial committee, which decides the merit of each nominee with regards to their contribution to Latin music.
[2][6] Cuban musicians Celia Cruz and Cachao were the first artists to be inducted into the Latin Music Hall of Fame at the inaugural Billboard Latin Music Awards in 1994.
[2] Selena and Raúl Alarcón, Sr. are the only recipients to have been inducted posthumously in 1995 and 2009, respectively.
[7] Alarcón, Sr. is the first non-recording artist to have been inducted into the Latin Music Hall of Fame.