Champion Sydney Swans full-forward and the game's  greatest ever goal-kicker, Tony Lockett, joined Australia's sporting elite with his induction into the Sport Australia Hall of Fame.

During a gala dinner and induction ceremony at Melbourne's Crown Palladium on Thursday night, Lockett became the first player from the AFL era to have his names etched on the illustrious honour roll.

He becomes the first player since Carlton's Alex Jesaulenko in 2010 and the 24th player across 121 years of Australian Rules Football to be inducted, joining a long list of football royalty that includes Leigh Matthews, Kevin Bartlett, John Coleman, Ted Whitten and fellow club great Bob Skilton.

"It's very special, it's very humbling, I'm just absolutely stoked and really honoured to be part of the Australian Hall of Fame," Lockett told AFL.com.au. 

"It's hard to explain really ... it's incredible."

Lockett, 51, was one of eight inducted into the Hall of Fame with taekwondo Olympic gold medallist Lauren Burns, Olymipc gold medal-winning cyclist Brad McGee, sports medicine leader Dr Grace Bryant, the late Paralympic pioneer Frank Ponta and Paralympic wheelchair great Troy Sachs also honoured.

Lockett retired from playing in 2002 after 281 games with St Kilda (183) and Sydney (98), finishing with a league record 1360 goals to his name.

He'd finish a Brownlow medallist (1987), a four-time Coleman medallist, five-time All Australian, three-time club best and fairest winner, and a five-time State of Origin representative.

He holds Legend Status in the Australian Football Hall of Fame, as well as the full-forward spot in both the Sydney Swans/South Melbourne and St Kilda teams of the century.

Lockett has, for the large part, lived away from the AFL spotlight since retiring but this came on board as the Sydney Swans' part-time goal-kicking coach.

Lockett, who presented Lance Franklin with his fourth Coleman Medal at this year's Club Champion Dinner, says he's enjoying 'clubland' again and working one-on-one with the superstar forward.

"Buddy's quite an incredible footballer," Lockett told media on Thursday afternoon.

"And it's been really good watching him this year, I've got a great thrill out of it actually just sitting in the stand and just watching the way he plays.

"It's been great to be back and be involved again."

Earlier, Lockett joined his fellow inductees in a low-key ceremony at the National Sports Museum.

Each were awarded commemorative pins by swimming legend Dawn Fraser before ceremonially revealing plaques named in their honour which will remain on display permanently inside the museum's showroom.

Australian footballers in the Sport Australia Hall of Fame
(with Sydney Swans/South Melbourne players in bold)

W.J. 'Nipper' Truscott
Dick Reynolds
Gordon Coventry
Haydn Bunton
Albert Thurgood
Dan Moriarty
Roy Cazaly
Ted Whitten
Bob Skilton
Graham 'Polly' Farmer
John Coleman
Ivor Warne-Smith
Ian Stewart
Barry Cable
Ron Barassi
Bob Pratt
Vic Richardson
Jack Dyer
Peter Hudson
Alex Jesaulenko
Leigh Matthews
Kevin Bartlett
Laurie Nash
Tony Lockett