Currently Hall Of Fame rules state that nominees can only be put forward if it's 25 years after the release of their debut album.
Now, according to Showbiz411, co-founder and publisher of Rolling Stone magazine and Hall Of Fame chief Jann Wenner is considering reducing this to 20 years due to the lack of suitable artists who fit the criteria to choose from.
The 63-year-old is also keen bring bigger and fresher names into as the list of acts become smaller.
This could be great news for an array of bands – including Nirvana, The Smashing Pumpkins, Public Enemy, Kid Rock and the previously mentioned Green Day and Guns N' Roses.
However, it may cause upset to those names who are yet to be inducted.
Kiss, Deep Purple, Yes, Red Hot Chili Peppers, Judas Priest and King Crimson are amongst those who are yet to receive a nomination or have failed to make the final cut.