Moneghetti is one of seven inductees with Karen Rolton (cricket), Lana Pittman (athletics), Anna Meares (cycling), Elizabeth Kosmala (para shooting), Thomas Hoad (water polo) and Mark Viduka (football).

He has been recognised for his contribution to sport through administration.

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Moneghetti said it was an honour to be in the company of some of Australia's greatest sportspeople.

"It's pretty humbling to be honest," he said.

"It's a bit surreal, that's not why you run but I think the thing for me is you look at the reputation ... of the other inductees and you realise the significance of it probably and that makes you feel a bit more honoured.

"Obviously the history of it, it's across all sports so it's not just athletics, so that's humbling I think."

The Hall of Fame praised Moneghetti for his efforts throughout his career.

"His selfless contribution, not only to his chosen sport of athletics, but to numerous sports disciplines, has left an indelible mark on Australian sport," the website read.

"In numerous roles ranging from captain of the Australian athletics team, to the Chef De Mission at three Commonwealth Games, and to administrative positions which have helped to provide better facilities and greater support for athletes, Moneghetti has made a lasting legacy for future generations."

Moneghetti, 59, competed in four Olympic Games, which included a fifth-place finish in Seoul in 1988 and a 10th place in his final race representing Australia in Sydney in 2000.

He was the Australian team captain at the 1998 Commonwealth Games and the 2000 Olympics, as well as mayor of the athletes' village at the 2006 Melbourne Commonwealth Games, and Chef De Mission at the 2010, 2014 and 2018 Commonwealth Games.

Moneghetti's career since retiring from international competition has also included a role as board director and deputy chair of Sport Australia and three terms as chair of the Victorian Institute of Sport.

During these roles, Moneghetti has promoted the welfare of athletes at all levels and helped improve facilities and conditions for Australian athletes.

He has undertaken countless charity roles throughout his career, more recently as an ambassador of the Ballarat Foundation's Run for Cause and the Run for the Kids, which has raised more than $18 million for the Royal Children's Hospital in Melbourne.

A career full of amazing milestones, Moneghetti can pinpoint one as his favourite.

"I think probably leading the team, I was the Chef De Mission of the Commonwealth Games on the Gold Coast in 2018 and I actually led the team from behind, so I was the last person into the stadium," he said.

"That was a pretty proud moment for me to be able to be the Chef De Mission of a Commonwealth Games team in Australia.

"For me, I looked at the journey that I'd gone on from being just a young kid downtown Ballarat, just running around ... and suddenly to be leading a really big Australian team into an opening ceremony at a home Games, that was a pinch yourself moment."

Looking ahead, Moneghetti hopes to continue to remain in athletics through coaching and running himself.

"I hope we can get some races back up and going, I'm actually still running okay myself so I'll jump in a few races. I'm running so well I'm even getting injured, I've got a sore hammy at the moment ... I'm continuing to battle on, if I was a horse they'd shoot me I think," he joked.

"It's been tough over COVID for people and whilst we could exercise, we've sort of had to do it in isolation or just with one other person and there's a lot of running and exercise but no competitions to really enjoy the company of others..."

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