PEORIA, Ariz. -- Beloved right-hander Jake Peavy and longtime owner John Moores will become the newest entrants in the Padres Hall of Fame, the team announced Wednesday. The pair will be formally inducted in a ceremony prior to the July 28 game against the Rangers at Petco Park.

Peavy, who took home the 2007 National League Cy Young Award and remains the only Padre to win the pitching Triple Crown, ranks as arguably the greatest starting pitcher in franchise history. He's the club's all-time strikeouts leader and posted an eight-season stretch in San Diego that included two ERA titles, a National League wins title and two trips to the All-Star Game.

• All-time Padres Hall of Fame inductees

"This honor means more to me than I’ll ever be able to put into words," Peavy said in a club statement. "The San Diego Padres feel like home. This organization developed me professionally and helped mold me personally. When I was drafted by the Padres at 18 years old, I never could have imagined that some 20 years later we’d be here. I’m so proud to be a Padre for life!"

Moores, meanwhile, served as club owner from 1994 through 2012, a period in which the Padres won four NL West titles and the '98 pennant. He played a leading role in the construction of Petco Park and the redevelopment of the surrounding neighborhood. Moores also engaged in philanthropic endeavors, including launching the Moores Cancer Center at UCSD Health.

"My experience in baseball for 18 years was remarkably satisfying," Moores said in a statement. "What I remember most fondly from this adventure wasn’t limited to building a ballpark or periodically winning the NL West. Rather, the charm of baseball was watching the game that Americans have enjoyed since the 19th Century. I never had a bad day at the ballpark."

He's slated for another good day at the ballpark this July 28 -- and, fittingly, Bruce Bochy will be on hand for the proceedings. Bochy, now manager of the Rangers, helmed Peavy's first five big league seasons and served his entire tenure as Padres skipper under Moores.

Moores and Peavy will become the 18th and 19th members in the Padres Hall of Fame, after broadcaster Ted Leitner and longtime executive Larry Lucchino were inducted last season.