ORLANDO, Fla. -- Hulk Hogan is back in the WWE Hall of Fame, the entertainment company announced Sunday.

  • Hulk Hogan reinstated into WWE Hall of Fame
  • Hogan was previously suspended for using racial slurs
  • WWE call the decision a "second chance"

The decision comes three years after the 64-year-old was suspended for using racial slurs.

"This second chance follows Hogan's numerous public apologies and volunteering to work with young people, where he is helping them learn from his mistake," WWE said in a statement.

In July 2015, WWE severed ties with Hogan after a recording surfaced of the wrestler using the N-word in an expletive-filled rant.

"It was unacceptable for me to have used that offensive language; there is no excuse for it; and I apologize for having done it," Hogan said in a statement at the time.

Hogan, a six-time WWE world heavyweight champion, was originally inducted into the WWE Hall of Fame with the Class of 2005.