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Hogan, real name Terry Bollea, died in hospital after emergency services were called to his Florida home with reports a man was suffering a medical emergency.
“We lost a great friend today, the ‘Hulkster. Hulk Hogan was MAGA all the way – Strong, tough, smart, but with the biggest heart,” Trump said in a post on Truth Social.
“He gave an absolutely electric speech at the Republican National Convention, that was one of the highlights of the entire week. He entertained fans from all over the World, and the cultural impact he had was massive.
“To his wife, Sky, and family, we give our warmest best wishes and love. Hulk Hogan will be greatly missed!”
Hogan stumped for the then-presidential candidate at the Republican National Convention in 2024.
In a speech, he called Trump his “hero” and said he would bring “America back together, one real American at a time.”
“Let Trumpamania run wild, brother! Let Trumpamania rule again! Let Trumpamania make America Great Again!” Hogan shouted into the crowd.
He then ripped off a t-shirt emblazoned with a picture of himself on a motorcycle to reveal a Trump-Vance campaign shirt underneath.
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Hogan had said in interviews that seeing Trump’s response to his assassination attempt in Butler, Pennsylvania, had changed his thinking about wading into that year’s election.
“As an entertainer, I try to stay out of politics,” said the wrestler.
“But after everything that’s happened to our country over the past four years, and everything that happened last weekend, I can no longer stay silent.”
Trump has long ties to the WWE, having participated in several events and been inducted into the WWE Hall of Fame in 2013.
The organisation’s former chief executive, Linda McMahon, is now serving as the Secretary of Education.
While Hogan endorsed Barack Obama in 2008, his allegiance shifted to Republicans in recent years.
Vice President JD Vance remembered Bollea as a “great American icon.”
“One of the first people I ever truly admired as a kid,” Vance wrote on X.
“The last time I saw him we promised we’d get beers together next time we saw each other. The next time will have to be on the other side, my friend! Rest in peace.”
With CNN, Associated Press.