Hulk Hogan, the iconic face of professional wrestling in the 1980s who parlayed his prowess in the ring into an acting career, has died at the age of 71, US media reported on Thursday.

Hogan – a Hall of Fame talent known for his towering two-metre physique, bandana and distinctive blond handlebar moustache – died at his home in Florida, NBC News reported, citing his manager Chris Volo.

TMZ also reported the news, citing unnamed sources and an emergency personnel dispatch call about a "cardiac arrest" at his home.

Hogan's magnetic personality – his ring character was a heroic all-American – and wrestling skills transformed the sport into mainstream family entertainment, attracting millions of viewers and turning the league into a revenue juggernaut.

Hogan – real name Terry Bollea – first competed in 1979 in the World Wrestling Federation (WWF, now known as WWE) but became a mainstay and fan favourite in the mid-1980s alongside others like Andre the Giant and "Rowdy" Roddy Piper.

His brand of "Hulkamania" transferred to the small and big screen, with roles in films such as Rocky III, No Holds Barred, and Baywatch.

He was inducted into the WWE Hall of Fame in 2005.

"WWE is saddened to learn WWE Hall of Famer Hulk Hogan has passed away. One of pop culture's most recognisable figures, Hogan helped WWE achieve global recognition in the 1980s," World Wrestling Entertainment said on social media.

"WWE extends its condolences to Hogan's family, friends, and fans."

Hogan suffered numerous health problems in later years, stemming from the years of abuse his body took in the ring.

He was married three times and had two children with his first wife, Linda. (AFP)