Hogan's theme on the Wrestling Album was Bonnie Tyler's "Ravishing" with her lyrics taken out and replaced with the "Hulk!" chant. I've seen it listed as his NJPW theme but I can't confirm that.
Interestingly, "Ravishing" came out after The Wrestling Album, AFAIK. "Hulk Hogan's Theme" definitely was used at least once in WWF: