The official announcement is expected for this Monday's 20th Anniversary of Raw.
UPDATE: Mick Foley posted the following response to the rumors that he is going into the WWE Hall of Fame…
As far as the HOF: I'll believe it when I see it on @WWE TV...or when I get a phone-call from Vince. Better check my VM for message from VKM
The original source of the report was from this article in the New York Post.