Terry Eugene Bollea was born in Augusta, Georgia on August 11, 1953, the son of construction foreman Pietro "Peter" Bollea (December 6, 1913 - December 18, 2001) and homemaker and dance teacher Ruth V. (nee Moody; 1922 - January 1, 2011). He is of French, Italian, Panamanian, and Scottish descent. When he was one and a half years old, his family moved to Port Tampa, Florida. As a boy, he was a pitcher in Little League Baseball.

On April 2, 2005, Hogan was inducted into the WWE Hall of Fame class of 2005 by actor and friend Sylvester Stallone. At WrestleMania 21 on April 3, Hogan came out to rescue Eugene, who was being attacked by Muhammad Hassan and Khosrow Daivari. The build-up to Hogan's Hall of Fame induction and preparation for his WrestleMania angle was shown on the first season of Hogan Knows Best. The next night on Raw, Hassan and Daivari came out to confront and assault fan favorite Shawn Michaels. The following week on Raw, Michaels approached Raw General Manager Eric Bischoff demanding a handicap match with Hassan and Daivari. Bischoff refused, but told Michaels if he found a partner he would be granted a tag team match. Michaels then made a plea for Hogan to team with him. On the April 18 episode of Raw, Hassan again led an attack on Michaels until Hogan appeared, saving Michaels and accepting his offer. At Backlash, Hassan and Daivari lost to Hogan and Michaels.  Hogan then appeared on July 4 episode of Raw, as the special guest of Carlito on his talk-show segment Carlito's Cabana. After being asked questions by Carlito concerning his daughter Brooke, Hogan attacked Carlito. Kurt Angle then also appeared, making comments about Brooke, which further upset Hogan, who was eventually double teamed by Carlito and Angle, but was saved by Shawn Michaels. Later that night, Michaels and Hogan defeated Carlito and Angle in a tag team match; during the post-match celebration, Michaels performed the Sweet Chin Music on Hogan and walked off. The following week on Raw, Michaels appeared on Piper's Pit and challenged Hogan to face him one-on-one for the first time. Hogan appeared on Raw one week later and accepted the challenge. The match took place at SummerSlam, which Hogan won. After the match, Michaels extended his hand to him, telling him that he "had to find out for himself", and Hogan and Michaels shook hands as Michaels left the ring to allow Hogan to celebrate with the crowd.  Prior to WrestleMania 22 in April 2006, Hogan inducted friend and former announcer "Mean" Gene Okerlund into the WWE Hall of Fame class of 2006. Hogan returned on the July 15 episode of Saturday Night's Main Event with his daughter Brooke. During the show, Randy Orton kayfabe flirted with Brooke and later attacked Hogan in the parking lot. He later challenged Hogan to a match at SummerSlam, which Hogan won.

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Hogan then appeared on July 4 episode of Raw,