The ex-Man City captain was one of six men who were voted into this year's Hall of Fame by fans and a panel of football experts.
Kompany joined City in 2008 and played a key role in the transformation at the club over the coming years. He won the Premier League Player of the Season award in 2011/12 as he captained the Citizens to their first Premier League title.
"I feel that I found a home at Manchester City and in the Premier League so I am delighted to be joining the Hall of Fame," Kompany said.
A highly accomplished centre-back with four Premier League winner's medals to his name, one of his defining moments came when he scored a stunning 30-yard strike in the penultimate match of 2018/19 – his last goal for the club – to swing the title race in their favour.
"I came to love the club... The biggest achievement of my career was to be a part of such an incredible journey"
"I came to love the club and I think the biggest achievement of my career was to be a part of such an incredible journey, where we progressed from a side without high expectations to become a dominant force and champions four times."
Kompany was inducted into the 2022 Hall of Fame alongside Wayne Rooney, Patrick Vieira, Paul Scholes, Sergio Aguero, Peter Schmeichel, Didier Drogba and Ian Wright.
All inducted players receive a medallion engraved with their name and the year of their induction, with a £10,000 donation made by the Premier League to a charity of their choice.
Part 1: Six new inductees voted into Premier League Hall of Fame
Part 2: Wright humbled by entry into Hall of Fame
Part 3: Schmeichel: I made sure I was remembered
Part 4: Scholes: Joining Hall of Fame a special feeling
Part 5: Drogba: Being in Hall of Fame a real honour
Part 7: Aguero: My son will be proud of me in Hall of Fame
Part 8: Premier League greats celebrated at Hall of Fame event