In 1983, the Sportswriters' Association of Western Australia proposed a Western Australian Hall of Champions to honour past athletes from the state who had made a significant impact in their sport. The Government of Western Australia asked the then-recently created Western Australian Institute of Sport (WAIS) to develop the concept and the Hall of Champions was inaugurated by Keith Wilson, the Minister for Sport and Recreation, on 19 August 1985.
Fourteen foundation inductees were made in 1985 and since then several new inductees are made each year at a dinner hosted by WAIS. The award is the highest honour that can be accorded a West Australian sportsperson.
The induction criteria are:
The selection committee currently comprises: Lawrence Apps, Ken Cassellas, Liz Chetkovich, Alan East, David Hatt, Glenn Mitchell and Pam O'Connell. Former members were Wally Foreman and George Grljusich.
The award is separate from the Western Australian Sports Star of the Year which is given to currently competing sportspeople.