The former world champion boxer was found dead at his home in Manchester on Sunday (14.09.25) at the age of 46 and Rooney described his passing as "devastating".
Speaking on his BBC podcast The Wayne Rooney Show, the former England captain said: "Ricky was such a good lad and a good person.
"He is someone who captured the nation, in terms of the support he got, they followed him all around the world.
"I want to pay my condolences to his family and everyone who is really close to him. It is way too soon."
Rooney explained that he learnt of the passing of 'The Hitman' just as he was about to play in a Manchester United legends match in South Korea.
He said: "It has not fully kicked in. It's devastating. Heartbreaking.
"I am sure over the next few days from everyone across the country we will see a lot of messages and people will understand what a true gentleman and good person he was."
Rooney carried Hatton's world title belts into the ring before the Mancunian fighter's victory over Jose Luis Castillo in Las Vegas in 2007 and described it as one of the most "nervous" moments of his life.
He said: "It was one of the most nervous I have ever been.
"I was in the pool all day in Vegas, it was hot, and my face got a bit burnt, but then I remember standing in the dressing room and being nervous.
"He hadn't lost at that time. I was thinking, 'He does not lose tonight. Is it on you? Is it your fault?'"
Rooney also praised Hatton for being "relatable" despite his level of fame.
He said: "So often you see any type of celebrity who are not really relatable, but Ricky was certainly relatable and good fun to be around."