On Tuesday, the hall revealed its 12 finalists, two of which will be enshrined at the Rochester, N.Y. museum on Nov. 7.
A national selection committee will vote on which two will take their place alongside last year's winners, dominoes and "Star Wars" action figures.
Click on to see this year's nominees.
What could be more fun than the simple pleasure of hundreds of shimmering, soapy bubbles.
A Chicago company called Chemtoy sold the first soap bubble solution in the 1940s, though paintings of children playing with bubbles appeared in the country of Flanders in the 17th century, hall officials said.
Want to know the future without consulting a psychic? This is the toy for you.
Does it work?..."Better not tell you now."
Ranging from simple balls to elaborate foam-based weaponry, Nerf is a favorite of many children (and some grown children.)
They're heroes in the half-shell, and they're green. What's not to love?
One of the more serious entries, chess, is arguably not a toy. Still, the challenging game is beloved by kids and adults alike around the world.
An arcade favorite since the early 1980s.
Both a toy and a mode of transportation, the scooter is a fun and fabulous way to get around town.
Was it Colonel Mustard with the knife in the library? Or perhaps Mrs. Peacock with the rope in the ballroom? Play this classic board murder mystery board game to solve the crime.
These endearing plastic people and animals are a classic toddler toy.
This is not the first nomination for the tiny plastic soldiers, a staple of many imaginative childhoods.
The classic bath time toy also starred as "the one" alongside Sesame Street's Ernie, inspiring the beloved character's classic song "Rubber Ducky."
The cartoon and figurines about magical, colorful ponies first appeared in the early 1980s. Most recently, the characters have inspired a movement of young male super-fans called "bronies."