On May 1, 2003 Mr. America debuted on SmackDown! on Piper's Pit, in which Vince appeared and claimed that Mr. America was Hulk Hogan in disguise, Hogan shot back by saying "I am not Hulk Hogan, brother!" The short-lived Mr. America.The feud continued though the month of May, with a singles match between America and Hogan's old rival Roddy Piper at Judgement Day. Zach Gowen was also involved in the feud on the side of Mr. America. Vince tried desperately to prove that Mr. America was indeed Hulk Hogan, but failed on all accounts. Mr. America even passed a lie detector test. Mr. America's last WWE appearance was on the June 26, 2003 edition of SmackDown!, where The Big Show, Shelton Benjamin and Charlie Haas defeated America, Brock Lesnar and Kurt Angle in a six-man tag team match when Show pinned America. After the show ended, America unmasked to show the fans that he was indeed Hulk Hogan. The next week, Hogan quit the WWE due to frustration with the creative team. On the July 3, 2003 edition of SmackDown!, McMahon showed the footage of Mr. America unmasking as Hogan and 'fired' him. For several months afterwards, WWE hyped up Big Show as the man who retired Hogan at Madison Square Garden (where the six-man tag team match was held), in order to give Big Show some more credibility. In a twist of irony, Big Show was first discovered by Hogan himself, and in 1995 was pushed as a major threat to Hogan's WCW Championship reign. A few months after Mr. America ceased to exist, Hulk Hogan worked a match for New Japan Pro Wrestling, beating Masahiro Chono at the Ultimate Crush II event. Hogan had been looking to make his debut for Total Nonstop Action, but another knee surgery delayed negotiations, and the deal was never finalized.

Hogan was inducted by Sylvester Stallone, into the WWE Hall of Fame on April 2, 2005. The Hulkster was greeted with a loud standing ovation which lasted several minutes prior to his acceptance speech. During his speech, Hogan was interrupted more than once by fans chanting "One more match!" The following night at WrestleMania 21, Hogan gave them a teaser of things to come, saving Eugene from an attack at the hands of Muhammad Hassan and Khosrow Daivari. On May 1, 2005, Hogan gave the fans what they had asked for, when he teamed with Shawn Michaels to defeat Hassan and Daivari at Backlash. On the June 27 edition of RAW Hogan was announced as the mystery tag team partner of WWE Champion John Cena and Shawn Michaels in a match against Chris Jericho, Christian and Tyson Tomko. Hogan then appeared the following week on the July 4 edition of RAW as the special guest of Carlito on his talk-show segment, Carlito's Cabana. After being asked disrespectful questions by Carlito concerning his daughter Brooke Hogan, Hogan proceeded to attack Carlito. This was then followed up by an appearance of Kurt Angle to further upset Hogan. Hogan was eventually double teamed by Carlito and Angle, but was saved by Shawn Michaels. Later that night, Shawn Michaels and Hogan defeated Carlito and Kurt Angle in a tag match. During the post match celebration, Michaels delivered Sweet Chin Music to Hogan and walked off, As a result Michaels will probably face Hogan for the very first time at Summerslam.

Today, Hulk Hogan is semi-retired from wrestling, appearing for occasional matches with WWE and managing the singing career of his teenage daughter Brooke Hogan. A reality series featuring Hogan's family, titled Hogan Knows Best, premiered on July 10, 2005, on VH1. Hulk Hogan's career is filled with legendary performances against a wide variety of opponents, ranging from newcomers to some of the greatest champions ever. His impressive physical prowess, charismatic personality, and ability to work an audience have helped him achieve true icon status in the sport of professional wrestling. The late WWE Hall of Famer Gorilla Monsoon summed it up best several years ago: "They broke the mold when they made this man! There will never be another Hulkster in the history of our great sport."

In what may prove to be a fitting end to an illustrious career, Hulk Hogan defeated "The Heartbreak Kid" Shawn Michaels in the main event of WWE Summerslam 2005 which aired today LIVE on Sky Box Office. Both men gave it everything from the onset, but a series of right hands by Michaels proved the difference maker, as Hogan was busted wide open. Michaels followed up with a rear naked choke, and was himself covered in Hogan's blood as a result. Hogan attempted his patented comeback, but Michaels, with a disgusted look on his face, simply slapped Hogan repeatedly to put an end to it. Hogan's latest comeback, it would seem, was about to come to a crashing halt. Hulk eventually rallied and went to hit the "Big Boot", but Michaels came flying off the ropes taking out both Hogan and the referee. HBK was up first and headed to the top rope as the live crowd chanted "We Want Bret!". Michaels looked at the crowd and asked "You want Bret?", before putting on the Sharpshooter as a second referee came out. Hogan struggled to the ropes and eventually forced the rope break, but HBK attempted a second Sharpshooter. Hulk powered out, taking out the second referee. HBK had enough and got hold of a steel chair, nailing Hulk with it, sending him crashing to the canvas before hitting a massive Superkick, flush on Hogan's jaw. As the referee came to, he made the count, but just made it to two as Hogan kicked out. Hogan, seeing his own blood, became enraged as he "Hulked Up", wailing on HBK with a series of right hands before hitting the Big Boot and Leg Drop for the win. Post match, HBK came to the ring and extended his hand to Hogan. Hogan hesitantly shook Michaels' hand, with the Showstopper then saying "I had to find out, and know I know" before leaving the ring, applauded by Hogan.