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The singer axes the concert that's originally scheduled to take place on Saturday, May 10 in Kiev.
The rockers and other artists like Hall and Oates, Cat Stevens and Linda Ronstadt will be inducted at a ceremony that's taking place at NY's Barclays Center on April 10, 2014.
The musician doesn't want to be associated with the controversial radio host because his 1986 hit was playing behind Limbaugh at the time he called Sandra Fluke.
Waits, in return, is so impressed with the cover version of his song 'In the Neighborhood' that he has posted video of Gabriel performing it on his official website.