CNN  — 

Ryan Giggs, Thierry Henry, Alan Shearer – the list of world-class players to have graced the Premier League is seemingly endless.

Now, the very best of the best will receive a new highly exclusive honor after the Premier League announced it will introduce its first Hall of Fame.

“Membership of the Premier League Hall of Fame will be the highest individual honor awarded to players by the League,” it said in a statement.

Alan Shearer is the Premier League's all-time top goalscorer on 260 and won the title once.

The first two players to be added will be revealed on March 19, with a shortlist of nominees announced at the same time, on which fans will be able to vote.

To be eligible, players have to be retired and only the time of their careers spent in the Premier League will be considered.

“Since 1992, the Premier League has been home to world-class players who have defined generations and provided us with compelling football season after season,” said Premier League chief executive Richard Masters.

Thierry Henry sits sixth in the Premier League goalscoring charts with 175 goals and won the title twice.

“A place in the Premier League Hall of Fame is reserved for the very best. It will be an occasion for our fans around the world to look back over the years and help us celebrate some truly exceptional playing careers.”

If Twitter reaction is anything to go by, then plenty of fans believe Shearer and Giggs could be to first two players inducted, with both names trending top in the United Kingdom.