The National Yo-Yo Hall of Fame was originated by the American Yo-Yo Association (AYYA), with the first class of inductees honored in 2002. Several attributes are considered in the voting in of inductees: contributions to the sport of yo-yoing, playing ability, integrity, sportsmanship, and character. Candidates were players, promoters, manufacturers, inventors, or individuals that contributed in meaningful ways to the sport/hobby. Initially, an AYYA screening committee selected candidates, and active AYYA members did the final voting. Inductees were announced in the Fall AYYA newsletter each year. A total of 18 individuals were honored from 2002 to 2008. The Yoyo Hall of Fame then went on a twelve-year hiatus when the AYYA disbanded.
In 2020 it was felt there was a desire by the yo-yo community to continue to honor individuals that have made significant contributions to the sport. So the National Yo-Yo Hall of Fame has now undergone a reboot.
Nominations for the National Yo-Yo Hall of Fame opens each November, and anyone in the yo-yoing community can nominate one individual. The three individuals with the most nominations are automatically entered into the pool of ten finalists. Seven more finalists are selected from the nomination pool by the executive selection committee. The three honorees will then be chosen from the ten finalists by the Academy of Yo-Yo Arts members during January. The announcement of the inductees will occur at the beginning of February.
There were no inductions in the Hall of Fame for the years 2009-2019