Winfrey will be honored as the sole inductee at a luncheon ceremony on May 3, according to ABC 7 and the IBA.
"Oprah is the epitome of broadcasting excellence," said Dennis Lyle, president/CEO of the Illinois Broadcasters Association, in a press release.
Winfrey came from Baltimore to Chicago in 1984 to host ABC 7 Chicago's morning show, A.M. Chicago. In 1986, under her new Chicago production company, Harpo Productions, Winfrey launched the Oprah Winfrey Show.
After 25 years, Winfrey will end her daytime television show in May.
IBA Hall of Fame inductees with ties to ABC 7 include Paul Harvey, Hugh Downs, the late Frank Reynolds, Chris Bury, and Charlie Gibson. Other IBA Hall of Fame luminaries include Roger Ebert, Gene Siskel, Jack Benny and Mike Douglas.
ABC 7 Anchor/Reporter Cheryl Burton will serve as the emcee of the luncheon on May 3.