The late Sopranos actor - who died in Italy last June aged 51 - will be commemorated at Convention Hall in Asbury Park in a ceremony attended by the mob drama's creator David Chase, as well as six cast members from the show.
The web-based hall recognises New Jersey residentswho have made "invaluable contributions to society and the world beyond" and a number of other people will also be inducted tonight.
These include NBC News anchor Brian Williams, former Governor Jim Florio, jazz legend Dizzy Gillespie, chef Alice Waters, author Dorothy Parker, and basketball icon Patrick Ewing.
Since 2008, 80 people with ties to the state have been inducted, including singers Bruce Springsteen and the late Whitney Houston, the Shining star Jack Nicholson and astronaut Buzz Aldrin.
James - who died of a heart attack while holidaying in Rome - scooped a number of awards for his portrayal of mob boss Tony Soprano, including three Emmy Awards for best actor, three Screen Actors Guild awards and a Golden Globe.
