Dolly Parton's iconic 1973 single, 'Jolene,' and Kris Kristofferson's 1970 critically-acclaimed debut album, 'Kristofferson,' have been added to the Grammy Hall of Fame, along with songwriter and guitarist Doc Watson's eponymous 1964 album.

The honor "acknowledges both singles and album recordings of all genres at least 25 years old that exhibit qualitative or historical significance," according to the Recording Academy.

Other 2014 inductees include the original soundtrack from Woodstock and recordings by James Brown, Chicago, Creedence Clearwater Revival, Miles Davis, Run-D.M.C., B.J. Thomas and Neil Young, among others.

"Spanning the 1930s to the 1980s, this year's Grammy Hall of Fame entries represent a diverse collection of influential and historically significant recordings," Neil Portnow, President/CEO of the Recording Academy, says. "Memorable and inspiring, these recordings are proudly added to our growing catalog — knowing that they have become a part of our musical, social, and cultural history."

This is Parton's second song to receive the prestigious honor. Her 1974 single, 'I Will Always Love You' -- which was also a hit for Whitney Houston in 1992 -- was included in 2007. Doc Watson's 1964 single, 'Black Mountain Rag,' was inducted in 2006.

The Grammy Awards, which will celebrate their 40th anniversary next year, will air live from Los Angeles on Jan. 26 on CBS. A special 150-page commemorative book, 'GRAMMY Hall Of Fame 40th Anniversary Collector's Edition,' will be available to celebrate the momentous occasion. Included in the book will be first-hand accounts of many of the Grammy Hall of Fame recordings, including those by Loretta Lynn, James Taylor, Carlos Santana, and Herbie Hancock, along with several others.