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Olly enters Hall of Fame
Olazabal - Hall of Fame.
The 43-year-old Spaniard was honoured along with American Lanny Wadkins and Ireland's Christy O'Connor as part of the class of 2009.
Olazabal, who won the Masters in 1994 and 1999, was introduced by compatriot and great friend Seve Ballesteros via video.
Ballesteros was due to attend the ceremony but was unable following recent treatment in his ongoing battle against a cancerous brain tumour.
A clearly touched Olazabal stated: "It is overwhelming.
"This would have to be well up there with the Masters championships. It is the recognition of a lifelong career for some great achievements and at the same time it somehow represents the way you have behaved all through these years, on and off the golf course.
"I think it is the best reward any golfer can get."
On Ballesteros, he continued: "Seve has been my mentor. I first met him when I was 15 years old and we have had a great relationship. That makes it so much more special having him doing the introduction to the Hall of Fame."