Notre Dame women's coach Muffet McGraw and Texas high school coach Robert Hughes also were selected to the class.
McGrady, 37, led the NBA in scoring in consecutive seasons in 2002-03 and 2003-04 as a member of the Orlando Magic. He was a seven-time All-Star and averaged 19.6 points per game during a 15-year NBA career with the Magic, Rockets, Raptors, Pistons, Knicks, Hawks and Spurs.
Self, 54, has won 13 consecutive Big 12 regular-season titles and also won a national title in 2008.
He has been a head coach at Oral Roberts, Tulsa, Illinoisand Kansas, and has a career mark of 623-193. Self is 416-88 in 14 seasons with the Jayhawks.
Lobo led UConn to the 1995 national championship and was a gold medalist for Team USA in 1996. She also was an All-Star in the WNBA in 1999.
McGraw has been Notre Dame's coach since 1987 and guided the Fighting Irish to the 2001 national title and seven Final Four appearances.
Hughes coached high school basketball in Texas from 1959 to 2005 and won five state championships. He finished his career with 1,333 career victories, the most in high school basketball history.
Also selected to the Hall of Fame were former Bulls executive Jerry Krause, who died on March 21, former NBA and ABA star George McGinnis, former NCAA vice president Tom Jernstedt, European star Nikos Galis and two members of the Harlem Globetrotters -- Zack Clayton and Mannie Jackson.