The induction will take place Nov. 13 at the Society Hill Sheraton.
In addition to Richter, there are 13 other athletes, one team, a broadcaster and a sports writer who will comprise the class.
The 47-year-old Richter now lives in Connecticut where he runs an energy infrastructure business that makes building more efficient.
In his spare time he also plays ice hockey, but no longer in goal. He is now a defenseman.
While his position has changed, his affinity for the Philadelphia area where he grew up, never has. A product of Germantown Academy, Richter admitted to being a passionate fan of the Flyers, Eagles, Phillies and 76ers.
"Philadelphia is known for that hard work, grittiness, all the good things sports can teach you about work ethic," he said. "The idea of Rocky coming from somewhere else just doesn't fit."
He said he is looking forward to attending the induction ceremony and that his honor is a reflection on his family, coaches and teammates from the time he was growing up all the way to the NHL.
Here are the other inductees:
Eric Allen. In seven seasons as an Eagles defensive back from 1988-94, Allen he earned five Pro Bowl appearances.
Charles "Chief" Bender. A three time World Series champion with the Philadelphia Athletics in 1910, 1911 and 1913, Bender was named to the National Baseball Hall of Fame in 1953.
Paul Costello. A native of Philadelphia, Costello was a three-time Olympic gold medal rower in 1920, 1924 and 1928 and was inducted in the U.S. Rowing Hall of Fame in 1956 and the Pennsylvania Sports Hall of Fame in 1970.
Ellie Daniel. A graduate of Abington High and the University of Pennsylvania, Daniel won Olympic gold, silver and bronze swimming medals in the 1968 games and was a bronze medalist in 1972.
Marvin Harrison. A graduate of Roman Catholic, Harrison was an eight-time Pro Bowl wide receiver for the Indianapolis Colts.
Herb Pennock. He attended Cedarcroft Boarding School (Kennet Square). Pennock was a seven-time World Series champion, including 1913 with the Philadelphia Athletics and was inducted into the National Baseball Hall of Fame in 1948.
Geoff Petrie. A graduate of Springfield Delco and then Princeton University, Petrie played six NBA seasons with Portland from 1970-76 and was co-Rookie of the year in 1970-71 and a two-time NBA all-star.
Brian Propp. He was a five-time all-star who scored 40 or more goals four times for the Flyers. In 1999 Propp was inducted into the Flyers Hall of Fame.
Curt Schilling. In nine seasons for the Phillies, Schilling ranks sixth in team history with 101 wins. In 1993 Schilling was the National League Championship Series MVP when the Phillies won the National League pennant.
Jean Shiley. A Haverford High graduate in 1929, she was an Olympic gold medalist in the high jump in 1932. A member of the Temple Hall of Fame and U.S Track and Field Hall of Fame, Shiley was a four-time National Indoor and outdoor champion in the high jump from 1929-32.
Meldrick Taylor. A 1984 Simon Gratz graduate, Taylor was the International Boxing Federation light welterweight champion and the WBA Welterweight champion. He won the Olympic medal in the featherweight division at the 1984 Olympics.
Chet Walker. A three-time all-star with the Philadelphia 76ers, Walker was a member of the 1966-67 championship team. He was inducted into the Naismith Memorial Basketball Hall of Fame in 2012.
Bobby Walston. He played 12 seasons for the Eagles as an end and kicker and was a Pro Bowl selection in 1960 and 1961.
Legacy of Excellence winners
Byrum "By" Saam. He was one of the legendary announcers who broadcast games of the Philadelphia Athletics, Phillies, Eagles and Philadelphia Warriors.
Frank Dolson. A legendary columnist, Dolson worked for The Inquirer for 41 years until his retirement in 1995.
Immaculata College "Mighty Macs" (1972-74 teams). These teams won three consecutive women's college basketball national championships.