Former Australia fast bowler Glenn McGrath will be inducted into the International Cricket Council's Hall of Fame next week.

McGrath will become the 68th male member to achieve the coveted accolade and joins fellow 2012-13 inductees West Indian Brian Lara and England's Enid Bakewell to be recognised by the game's governing body.

While Lara and Bakewell were inducted in September at the ICC awards in Colombo, McGrath will be inducted at the Sydney Cricket Ground, during the lunch interval on day one of the third Test between Australia and Sri Lanka.

"I am honoured that the ICC Cricket Hall of Fame voting academy, which includes all the current living Hall of Famers, have nominated and voted me to be inducted into the Hall of Fame," said McGrath.

"I am very much looking forward to celebrating the occasion on 4 January, with not only my friends and family, but all those at the SCG, which is of course is like a second home to me."

The right-arm seamer played 124 Tests between 1993 and 2007, clinching 563 wickets at the impressive average of 21.64. He also competed in 250 ODIs, claiming 381 wickets at 22.02 apiece.