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It wasn't easy.
The Ollie 540 requires him to head on up the halfpipe and complete one-and-a-half full rotations without laying a hand on the board, before sticking the landing.
That's difficult enough for anyone, but the older you get, the more difficult it gets.
So it proved for Hawk.
The video shows him constantly wiping out and getting back up again to re-attempt the trick.
At one stage he goes sliding completely off the ramp, taking out some camera equipment in the process.
"Sorry, I broke everything", he apologised.
However, his persistence did pay off at the end, and he managed to stick the Ollie 540.
Upon landing smoothly, he threw up his hands and yelled, before crumpling to his knees.
Fighting back the tears, he said: "I'm a little sad. I never have much finality to anything but that was definitely the last one I'll ever do. F*** it, happy I made it."
Hawk was forced to give up his most famous trick, the 900, a few years back.
However, he did pull a 720, which is half a rotation less - still two full turns - more recently.
This January, he shared footage of him landing the huge spin, writing: "I recently made a 720 and it was a battle. The last one I made before this was over three years ago, and it's much harder now all things considered.
"Recently dislocated fingers hinder my grab, my spin is slower so I need to go higher for full rotation and...I'm really old.
"I can't say for certain that this is the last one I'll ever do, but I can't imagine doing many more."
During Hawk's career, he's won countless medals, competed all around the world, and - of course - fronted an unbelievably successful video game franchise.
However, his greatest regret is that he spent too much time away from home during those years, and away from his children.
He told News.com.au: "When it reached a crazy celebrity level in the early 2000s, then I fell into it (the celebrity lifestyle) a little bit more and that was a challenge.
"I was getting invited to movie premieres and Hollywood parties so that became more challenging.
"I went on one too many trips or to frivolous premieres or appearances that took away from my time with my kids and I definitely regret it. I should have stayed home more for my kids, especially in their formative years, but instead I was off and running.
"Suddenly I felt like these opportunities were once in a lifetime, I had to take them, but in reality they weren't worth the time away from my kids."
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