Seven members of the 1953 premiership team - Lou and Ron Richards, Mick Twomey, George Hams, Arthur Gooch, Murray Weideman and Thorold Merrett - were on hand to receive their honours, while the legendary Bob Rose was represented by wife Elsie.
Weideman, who has already been inducted in to the hall individually, told AFL.com.au he was delighted to be part of such a legendary team.
Weideman - who remains the youngest premiership player at just 17 years and 222 days - was the '20th man' in the premiership triumph. He replaced teammate Arthur Gooch in the final quarter, and gathered nine disposals in playing a pivotal role for the Pies.
"It was just tremendous. I was a Collingwood little kid - I followed Collingwood my whole life - and then to finish up playing with Neil Mann, who was my hero, and Bob Rose, who was my other hero, it was just a great thrill," Weideman said.
"I was just excited that I was in the team (with his heroes)."
The Pies also honoured inductees from two different eras with Rocca joined by Libbis, a star rover in Collingwood's fabled 'Machine Team'.
Collingwood went into the 1953 Grand Final as rank outsiders against an all-conquering Geelong side, but led by coach Phonse Kyne and captain Lou Richards, ended a 17-year premiership drought.
Rocca, who is now a development coach at Collingwood, won four Gordon Coventry trophies - as the club's leading goal kicker - and the Darren Millane Trophy in 2002, during his distinguished 242-game (220 in Pies colours) AFL career.
Libbis kicked 149 goals in 139 games for the Magpies and was renowned as a superb exponent of the 'stab kick', delivering the ball with great precision to the team's forwards.
Ben Guthrie is a reporter for AFl.com.au. Follow him on Twitter- @AFL_BenGuthrie
