[3] With its mission being 'inspiring future generations of athletes by honoring the sports heroes of today',[4] potential induction candidates from worldwide are picked and shortlisted by a twenty-member 'Global Advisory Board' chaired by the president Dr. Robert M. Goldman and vice president Fairfax Hackley.

The winners are selected based on their past and present contributions to the sports world and their charitable works mentoring youth and inspiring future generations of athletes with a "giving back" mindset.

Since its inauguration in 2012, the Hall of Fame Induction ceremony was held in conjunction with the Arnold Schwarzenegger Sports Festival, in Columbus, Ohio.

From 2024 onwards, the event was moved to Las Vegas and held in conjunction with the Olympia Weekend.

[5][6][7] As of 2024, 72 individuals have been inducted to the International Sports Hall of Fame.