Williams first learned he had achieved the honor last spring and was celebrated on campus earlier this fall during halftime of the Buffs' victory over Hawaii.
Williams is the fifth Colorado player to receive the highest honor in the college game. He joins Byron 'Whizzer' White (inducted 1952), Joe Romig (inducted 1984), Dick Anderson (inducted 1993) and Bobby Anderson (inducted 2006) as Colorado Hall of Famers.
"This is our 20-year anniversary of our national championship so for me it's been a wonderful year," Williams said today during a press conference for inductees at the Waldorf-Astoria Hotel in New York. "I've been able to be a part of some great football teams. The men who've coached me over the years have been outstanding and I want to say thank you to all of them. From high school to Colorado, Bob Simmons and the great head coach Bill McCartney and all of my coaches in the NFL. This has been a wonderful, wonderful day for me and my family and we want to say thank you."
Williams was a unanimous first-team All-America selection as a senior in 1990 and became the first CU player ever honored with a postseason trophy when he won the Butkus Award that season. The award is given annually to the nation's best linebacker.
Williams was the Defensive Player of the Year in the Big Eight Conference as a junior and a senior and ended his college career as CU's all-time leader in sacks with 35 for 242 yards in losses. He still holds that record.
He also is Colorado's career leader in tackles for loss with 59 for 303 yards.
Williams was the 18th overall selection in the 1991 NFL draft and played nine seasons in the league. He played for three different teams, including the final four years in Denver where he won two Super Bowl titles with the Broncos.