The 59-year-old is taking legal action after a two-minute clip of him with the woman, who is neither his ex-wife Linda Bollea nor his current spouse Jennifer McDaniel, appeared online, reported TMZ online.
His legal representatives said that a cease-and-desist order will be issued to any websites hosting the X-rated footage, which was shot with a security camera.
Hogan's attorney David R Houston said in a statement, "This tape was made secretly without Hulk's knowledge or permission. We are going to do everything in our power to figure out who did it.
"Anyone displaying the tape will be held accountable to the fullest extent of the law."
The video was threatened to be leaked earlier this year and was being shopped around to the highest bidder.
"I wasn't really shocked about it," said Hogan's ex-wife Linda.
She added that the footage, thought to be of Heather Clem, the ex-wife of Hogan's best friend and radio DJ Bubba the Love Sponge, is "a little twisted".