Two-time Supercars champion and ex-NASCAR driver
Ambrose was one of three circuit racers honoured in Melbourne on Friday night along with Australian motorsport pioneer, the late Hope Bartlett, and seven-time Bathurst 1000 winner Craig Lowndes, who had been revealed as an inductee last month.
Ambrose won the 2003-04 Supercars titles before heading to the United States to begin his NASCAR career.
He is the only Australian to have won a top level NASCAR Sprint Cup event, ending his US career with two victories to his name.
The Tasmanian made a Supercars comeback with Ford's DJR Team Penske in 2015 but surprised the category when he handed over his full-time ride to Scott Pye after the season's opening round.
"The highs and lows of racing creates a hell of a ride and it is a privilege to receive an award like this, especially when it is decided by your peers," Ambrose said.
"Race wins and championships can come and go, but respect by your peers is the ultimate reward to be won."
Alan Jones - the 1980 Formula 1 world champion - was already an inductee but capped the Hall of Fame ceremony by being elevated to legend status beside Sir Jack Brabham and Mick Doohan.
LIST OF 2019 HALL OF FAME INDUCTEES
Circuit racing - Craig Lowndes, Marcos Ambrose, Hope Bartlett; Motorcycling - Phil Crump (speedway), Ray Fisher (motocross), Eric Hinton (circuit), Stefan Merriman (trials/enduro); Drag racing - Eddie Thomas, Larry Ormsby; Speedway - Max Dumesny; Off-road - David Fellows; Special category - Evan Green, Allan Horsley; Legend status - Alan Jones.
