Ivanisevic, who won the 2001 Wimbledon title as a wild-card entry, will be inducted as part of the Class of 2020 together with Spain's Conchita Martinez, who won her only Grand Slam title in Wimbledon in 1994. Both reached No. 2 in the rankings.
Ivanisevic is currently on Novak Djokovic's coaching team, while Martinez is coaching Garbine Muguruza.
The induction ceremony will be held on July 18 in Newport, Rhode Island, where the International Tennis Hall of Fame is located.