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WWE legend Pat Patterson just revealed that he's been living in the closet for the past 50 years -- and has finally decided to go public about that fact he's a gay man.

The 73-year-old dropped the news on the finale of WWE Network's "Legends' House" ... saying, "For once in my life I'm going to be me now."

Patterson -- who's a WWE exec -- explained that he's been keeping the secret out of the public eye for 5 decades ... and had a partner for roughly 40 years, but he passed away after suffering a heart attack.

Patterson has been Vince McMahon's right hand man for decades ... he also was the company's first Intercontinental champion and helped create the "Royal Rumble."