Bensch announced the winners Friday morning on ABCs Good Morning America.
The three other inductees were selected by a panel of judges from a list of a dozen finalists.
Heres more about the four new inductees.
In 1982, the dolls were renamed Cabbage Patch Kids through a licensing deal with Coleco Industries.
Nerf
Parker Brothers sold 4 million Nerf Balls the year they debuted, in 1969.
The foam ball was sold to parents as an indoor toy that wont damage lamps or break windows.
Its perfect for toddlers learning to walk, says Bensch.
Fisher-Price purchased the design in 1957 for $50.
Find the full list of inductees over the yearshere.
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