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Mitchell, the first South African to receive the honour, finished his career with a record of 45-1-3 with 21 wins inside the distance.
Mitchell won the WBA and IBF junior lightweight titles during the 1980s and 1990s.
American bantamweight Orlando Canizales was also inducted.
Three-time world champion Lewis, 43, retired in 2003 with a record of 41-2-1, including 32 knockouts. He entered the hall in his first year of eligibility.
Canizales retired in 1999 with a record of 50-5-1.
Lewis, who began fighting as an amateur at the age of 15, said it was his mother who sparked his interest in boxing, hosting parties to watch big bouts when he was young.
"I didn't really understand them at first. People would come over the house for the big fight. She would be really excited about it. I remember sitting in front of the television watching all the great fights," Lewis said.
In 1988, Lewis won an Olympic gold medal, defeating American Riddick Bowe in the finals.
He turned pro in 1989. After winning the European, British and Commonwealth heavyweight titles, Lewis won the vacant WBC title in 1992, stopping Donovan "Razor" Ruddock in the second round.
In 1997 he reclaimed the title from Oliver McCall, avenging an earlier defeat.
In 2001 Lewis captured the WBC crown for the third time with a fourth-round knockout of Hasim Rahman. With that victory he avenged his only other pro defeat and joined Rocky Marciano and Gene Tunney as the only heavyweights to retire with no unavenged defeats.
Lewis's career included two memorable clashes with Evander Holyfield. They fought to a draw in March 1999 at Madison Square Garden.
Lewis said he hoped he'd be remembered as a proponent of boxing as a "magical dance".
"Our sport is usually looked at as a brutal, savage sport," Lennox said. "I see it as a sweet science, a magical dance. For me, I just wanted to live up to that, and keep the dignity and the humanistic aspect and the positiveness of it ... so that people will remember that's what I did for boxing," Lewis said.
