The Naismith Memorial Basketball Hall of Fame has released the list of nominees for the 2016 class on Monday. The ballot list is headlined by four-time NBA champion Shaquille O'Neal, Philadelphia 76ers legend Allen Iverson, and Houston Rockets center Yao Ming.

The full list of nominees can be seen on the official website of the Basketball Hall of Fame at HoopHall.com. O'Neal and Iverson became first-time nominees under the Hall of Fame's new eligibility rules that allow players to be nominated four years after their retirement, instead of five years that under the old rules.

"We wanted to get more in line with some of the other Halls, and it just seemed like too long of a wait for some of the individuals," Hall of Fame chairman Jerry Colangelo said on SportsCenter as quoted by ESPN.

O'Neal is considered one of the greatest centers to have ever played the game and won the Rookie of the Year in 1993 after being drafted 1st overall out of Louisiana State University by the Orlando Magic. He signed for the Los Angeles Lakers in 1996 and won three straight championships from 2000 to 2002 along with Kobe Bryant.

He got his fourth championship in 2006 with the Miami Heat alongside Dwyane Wade. "Diesel" retired in 2011 with 15 All-Star selections and the 2000 MVP Award to his name.

Iverson was one of the best players of his generation and ushered the new era of the NBA after Michael Jordan's second retirement. He won the Rookie of the Year in 1997, the MVP in 2001 and was named to 11 All-Star games.

"The Answer" was listed only at 6'0" but he became one of the most prolific scorers in the history of basketball, leading the NBA in scoring in four different seasons and having a career average of 26.7 points and 29.7 points in the playoffs. He also led the 76ers to the 2001 NBA Finals before losing to the Lakers in five games.

Yao only played in only eight seasons in the NBA as his career was shortened by injuries. He was named to eight All-Star teams and ranks sixth in the Houston Rockets' total points and rebounds, and second in blocks. The 7'6" Chinese legend introduced the NBA to the big Asian market, helping the league gain more audience.

Among other notable names include power forward Chris Webber, Michigan State coach Tom Izzo, announcer Marv Albert and women players Sheryl Swoopes and Rebecca Lobo.

Finalists will be announced during NBA All-Star Weekend in February while the inductees will be introduced on the NCAA Men's Championship Game in Houston. The enshrinement ceremony for 2016 Hall of Fame Class will be held in September at Springfield, Massachusetts.