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Captain Lou Albano:
Successfully complete career mode with a wrestler in the "Hated" category.

David Von Erich:
Successfully complete career mode as Kevin Von Erich.

Dory Funk:
Successfully complete career mode as Terry Funk.

Fritz Von Erich:
Successfully complete career mode as Kerry Von Erich.

All wrestlers:
Press Up(2), Down(2), Left, Right, Left, Right, Y(2), X at the main menu. After enabling the code, go to the options screen and save your options. This will keep all wrestlers unlocked if you start your game over.

Ivan Koloff:
Win the versus tournament.

Jimmy Hart:
Successfully complete career mode with a wrestler in the "Loved" category.

King Kong Bundy:
Win the Southeast Territory in career mode.

Michael Von Erich:
Successfully complete career mode as David Von Erich.

Mr. Fuji:
Win the Tag Belts in tournament mode.

Robert Gibson and Ricky Morton:
Win the tag tournament.

Sabu:
Successfully complete career mode as The Sheik.

Bonus arenas:
Successfully complete the game in career mode to unlock the Back Lot, Gym, Beach Resort, and Casino arenas in exhibition mode.

All wrestlers
Press Up(2), Down(2), Left, Right, Left, Right, Y(2), X at the main menu. After enabling the code, go to the options screen and save your options. This will keep all wrestlers unlocked if you start your game over.

Reversal bonus
Everyone has some sort of suplex. Go for your suplex (for example, Corkscrew. This is the most countered move). When they counter, try to counter them. After you counter, keep going for highly countered moves until you get reversal bonus.
Submitted by: Zach

Finisher bonus
Try to get a finisher that is executed from the front because those are the easiest. Get your opponent up, and wiggle the Analog-stick quickly until you execute your finisher.
Submitted by: Zach

KO bonus
Beat up your opponents until they KO. They should KO after about six moves after all their health is gone.

Increase Slam! meter
During a match, you can quickly increase your Smackdown Meter until it is full, by pressing "Taunt". If your Slam! meter is almost empty, you will have to repeat this a few times. After every taunt, you will see your meter grow a percentage until it is full. Note: When performing a taunt, it leaves you open for your opponent to attack. This is best performed while they are either groggy or on the opposite side of the arena.

Skip matches in career mode
When you are in a match in career mode, select "End Match" and you can then go on to the next arena without fighting that match.
Submitted by: Zach