The Virginia Sports Hall of Fame honors athletes, coaches, administrators, journalists and other contributors to athletics. Many of the more than 350 inductees since 1972 were born in Virginia or enjoyed success in college, professional, amateur or Olympic sports after moving to the state. Each April the Virginia Sports Hall of Fame inducts eight new members into its ranks.
From 2005-2017, the Hall of Fame operated a museum in Portsmouth. In 2017, to reduce expenses and dependence on government support as well as increase sponsorship interest, it changed its business model, closing the building in Portsmouth and moving its operations to Town Center in nearby Virginia Beach. There it placed many of its educational exhibits and Hall of Honor, listing all inductees, in high-rise office and hotel lobbies within that popular mixed-use development. It made the displays accessible to the public through a novel and free pedestrian tour called "Walk the Hall" and began hosting a variety of sports oriented programs throughout Town Center of Virginia Beach, where its offices are now situated. The non-profit changed its website address to www.VaSportsHOF.com.
The Hall of Fame has a statewide board of directors and an Honors Court that receives and reviews nominations of potential inductees, announcing its selections each December.