The hall of fame is dedicated to "educating, honoring and celebrating the lives and music of the world’s greatest Latin songwriters and composers".

Nominations for the inductions are selected by its committee of music professionals, which consists of producers, composers, musicians, and performers,[5] with the winners being voted by the general public.

[9] After a two-year absence, the organization celebrated its tenth anniversary in 2022 and inducted both of its founders into the Latin Songwriters Hall of Fame.

[10] Since the inception, songwriters originating from Argentina, Brazil, Colombia, Chile, Cuba, the Dominican Republic, Ecuador, El Salvador, Italy, Mexico, Panama, Peru, Puerto Rico, Spain, the US, and Venezuela have been inducted.

The La Musa Honors were only presented in 2013 and were awarded to Olga Guillot, Draco Rosa, Nat King Cole, Desi Arnaz, Ralph S. Peer, Prince Royce, and Natalia Jiménez.