 He is a member of the Italian Basketball Hall of Fame, inducted in 2008.His older brother, Luigi Ossola, played football professionally, in the Serie A, and another older half-brother Franco Ossola, was one of the highest all-time scorers of the Torino F.C..

On 3 February 2008, Ossola was chosen as one of the 50 Greatest EuroLeague Contributors, over the previous half-century, by the EuroLeague Basketball Experts Committee.Ossola won, with the great Italian League club Ignis Varese of the 1970s, 5 FIBA European Champions Cup (EuroLeague) titles (1970, 1972, 1973, 1975, and 1976), and he also played in ten consecutive EuroLeague Finals (1970, 1971, 1972, 1973, 1974, 1975, 1976, 1977, 1978, and 1979), a record that is almost impossible to be broken.