Heenan was inducted into the WWE Hall of Fame by Blackjack Lanza in 2004. During his speech, he paid tribute to his close friend and broadcast partner Gorilla Monsoon. He tearfully said "I wish Monsoon were here." Heenan also inducted "Mr. Wonderful" Paul Orndorff in 2005, Nick Bockwinkel in 2007 and The Blackjacks (Blackjack Mulligan and Blackjack Lanza) in 2006.