Dicker, who led the Hawks for nine years, will be inducted at the league’s Annual General Meeting in March.
Dicker took charge of Hawthorn at the lowest ebb in the club’s history, just after the near-merger with Melbourne at the end of 1996.
After replacing Brian Coleman, Dicker was instrumental in setting up the club’s move to Waverley and also made a bold move in recruiting rookie coach Alastair Clarkson at the end of 2004.
Less than four years later, Clarkson took the Hawks to their tenth premiership.
Dicker handed over the presidency to Jeff Kennett at the end of 2005 but is still a regular fixture at Hawthorn matches.
AFL Commisioner Colin Carter and St Kilda premiership captain Darrel Baldoch were also awarded life membership for their involvement in the game, while Adem Yze, Tyson Edwards, Brent Harvey, Michael O’Loughlin, Matthew Richardson and umpires Shane McInerney and Stephen McBurney were automatically inducted.
Former St Kilda defender Gary Colling has also been awarded the Jack Titus Service Award for Conspicuous Service to the game, after more than 40 years as a player, coach and administrator.
AFL CEO Andrew Demetriou said the Commission was delighted to have 11 individuals to honour with induction.
"Life membership of the sport you have served is the ultimate acknowledgement by everyone in the game of your efforts," Demetriou said.
"Our new inductees are extremely deserving and have done so much in the game to make our sport as strong as it is.
"The AFL, on behalf of our Commission and our clubs, congratulates each of our new life members on their accomplishments and we look forward to formally acknowledging them at the AGM just before the launch of the 2009 Toyota AFL Premiership Season."