Dual Geelong premiership captain Tom Harley, Essendon spearhead Matthew Lloyd, Sydney Swans 300-gamer Michael O'Loughlin and Richmond fan favourite Matthew Richardson are among those eligible for the first time, having now been retired for three seasons.
The League has not indicated how many players will be inducted, nor which eras they will come from.
In the past two years, modern-day greats Robert Harvey, Shane Crawford, Glenn Archer, Nathan Buckley, Chris Grant, James Hird, Mark Ricciuto and Michael Voss have all joined the Hall of Fame.
But others whose playing days ended in 2007 or 2008, including Peter Bell, David Neitz, Scott West, Chris Johnson and Anthony Koutoufides, have yet to be recognised and also have strong claims for inclusion.
Alongside the new inductees, one existing Hall of Fame member will be elevated to Legend status, the highest honour in the game.
The Hall of Fame selection committee is made up of AFL commission chairman Mike Fitzpatrick (chairman), Dennis Cometti, Bruce McAvaney, Michelangelo Rucci, Stephen Phillips, David Parkin and AFL Players Association CEO Matt Finnis.
Inductees can be players, umpires, media personalities, coaches or administrators, and can come from any era or football league in Australia.
The dinner is being held in Canberra as part of the city's 100th birthday celebrations.
Follow live coverage of the event on AFL.com.au from 8pm AEST.
