Reed and Martin were among the 15 finalists for induction, but neither AFC East star made the cut Saturday when the next induction class was determined.
The 2011 class includes running back Marshall Faulk, tight end Shannon Sharpe, defensive end Richard Dent cornerback Deion Sanders and NFL Films patriarch Ed Sabol. Senior nominees headed to Canton are linebackers Chris Hanburger and Les Richter.
Reed has been a finalist five times. For the second year in a row, the Buffalo Bills legend finished ahead of Cris Carter and Tim Brown in the selection process, which pares down the group of finalists from 15 to 10. Reed made the top 10, while Carter and Brown did not.
But Reed didn't make the next cut to five. That's the group the selection committee makes a final yea or nay vote on, with 80 percent agreement required for induction. The committee approved all five.
Reed will have to wait to join his former teammates already honored in Canton: quarterback Jim Kelly, running back Thurman Thomas, receiver James Lofton, defensive end Bruce Smith and head coach Marv Levy.
Reed made 951 catches for 13,198 yards and 87 touchdowns and played in four consecutive Super Bowls. He's known as one of the best yards-after-catch receivers in NFL history, perhaps second to only Jerry Rice, and among the grittiest over-the-middle threats.
Reed was a seven-time Pro Bowler. He posted 13 seasons with at least 50 receptions, tied for second all-time. He's tied for third in postseason history with five 100-yard games. His 85 postseason receptions rank third.
Martin, a star running back with the New England Patriots and New York Jets, was on the ballot for the first time. His former coach, Bill Parcells, advocated Martin be a first-ballot Hall of Famer.
Martin rushed for 14,101 yards and scored an even 100 touchdowns, 90 on the ground and 10 more off catches. He ran for 1,000 yards in 10 straight seasons, the second-longest streak in league history. Martin was the 1995 offensive rookie of the year and made five Pro Bowl rosters.
Carter was another Hall of Fame finalist with an AFC East connection, albeit barely. Carter finished his career with the Miami Dolphins, catching eight passes over five games in 2002. His 130th and final touchdown was with Miami.
That gave every AFC East club a link to Saturday's selection process.