The tape was recorded at least six years ago, and a clip of it was posted online by Gawker last week.
Hogan says the video is of him and the estranged wife of his friend, radio personality Bubba the Love Sponge. Hogan says he hopes it wasn't his best friend who betrayed him and released a tape.
"I had reached out to him before I came here and I said, 'This is going full blown,'" Hogan told "Showbiz Tonight" host AJ Hammer on HLN. "He goes, 'I'm on the team, I'm on the team, I'm not going to lawyer up. I'm not going to do anything.' When I got hit with this in New York, I called him, there was no answer and next thing I know I got a call from his lawyer. So I sent him to my lawyer David Houston. But at the end of the day, if he did it, we were never friends. And to take someone that was at an all-time low, set him up, put a camera and then say something about money, I can't believe someone would do that to another person. So that is why I am praying to God there's something."
Hogan said he wants to find out who leaked the tape.
"I told my attorney David Houston, I said 'David this is something that we need to find out who everybody is now.' So I told him last night, go full bore, with criminal and civil charges. He's in LA and when he gets back to Reno he's moving forward," Hogan said.
Hogan says he hasn't seen the tape, but TMZ told him Bubba could be heard talking on the tail end of the tape.
Hogan says Bubba has denied he had anything to do with the recording the sex tape.
