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Hulk Hogan is apologizing for using the n-word during an angry rant about his daughter's ex-boyfriend, and it doesn't reflect who he really is -- but a transcript of the remarks paints a much different picture.

Hulk tells us ... "Eight years ago I used offensive language during a conversation. It was unacceptable for me to have used that offensive language; there is no excuse for it; and I apologize for having done it."

The language he's referring to is outrageous -- coming on the tail end of his sex tape. Hulk says ... "I mean, I don't have double standards. I mean, I am a racist, to a point, f**king n**gers."

He continues, "I mean I'd rather if she was going to f**k some n**ger, I'd rather have her marry an 8-foot tall n**ger worth a hundred million dollars! Like a basketball player."

Hogan is suing a website for releasing the sex tape, and the n-word rant is expected to come out when the case goes to trial later this year.

In his apology, Hogan says ... "I am disappointed with myself that I used language that is offensive and inconsistent with my own beliefs. It is not who I am. I continue to work every day to improve as a person, and this matter is an important learning experience for me in that regard."