The South Australian, who had a 14-year international career from 1995 and captained Australia, joined former Australian captain Ricky Ponting and batsman Norm O’Neill as the newest inductees.
Rolton played 14 Tests, 141 one-day internationals and 15 T20Is between 1995 and 2009, scoring more than 5800 runs and posting 10 centuries.
A two-time World Cup winner (in 1997 and 2005), she remains the only woman to score a century in a World Cup final, having made 107 in the 2005 decider against India in Centurion.
Rolton’s 209 not out against England in 2001 was then a women’s Test record score.
The all-rounder was the inaugural ICC women’s player of the year in 2006 and last year was inducted into the ICC Hall of Fame.
Rolton claimed the Belinda Clark Award on four occasions and replaced Clark as Australian captain in early 2006, a position she held until 2009.