Cougar Queen about to deliver a devastating body slam to her ex-hubby HULK HOGAN.

Linda Hogan, 50, is getting hitched to her 21-year-old toyboy lover Charlie Hill, friends of the couple told The ENQUIRER exclusively.

The couple recently became engaged and are planning to wed next summer aboard her new 50-foot yacht, which she named "ALIMONEY."

The Hulkster has long been upset over his wife’s May-December relationship, but pals say Linda is happier than ever since splitting with her cheating husband.

An insider reveals: "The happier Linda gets with Charlie, the unhappier Hulk gets.

Even though Hulk, 56, is engaged to his 36-year-old girlfriend Jennifer McDaniel, Linda’s romance seems to be a roadblock to his own happiness.

During his costly, mud-slinging divorce, the wrestler didn’t hide his bitterness, telling an interviewer: "I could have turned everything into a crime scene, like O.J., cutting everybody‘s throat."

For ALL the details – they’re in the new ENQUIRER!