The Hawks will travel interstate for a knockout semi-final against Port Adelaide next week after running the Bulldogs ragged in the 14.15 (99) to 9.8 (62) victory at the MCG on Friday night.
It was Hawthorn's first finals victory since completing a famous hat-trick of premierships in the 2015 grand final.
And it was the latest chapter in the so-called Hollywood Hawks' stunning revival under Sam Mitchell, after a horror 0-5 start to the season.
Dear, son of 1991 Norm Smith medallist Paul Dear, kicked three goals and Watson finished with four in their first finals appearances, played in front of 97,828 fans - a new record for an elimination final.
The Hawks trailed by two goals at quarter-time but kicked nine majors to two through the second and third periods, seizing control at the coalface.
"The players just handled every aspect of the game pretty well," Hawthorn coach Sam Mitchell said.
"Whatever was thrown at us, whether it was tactical or even little things like score reviews and blood rules.
"All those little details in a game with which you can lose your way ... I just thought we showed a level of maturity which gives me a bit of confidence."
Jai Newcombe (right) was a force for the Hawks, with a game-high 35 disposals. (Joel Carrett/AAP PHOTOS)
Hawks livewire Jack Ginnivan, who courted criticism with a trip to a Richmond pub the night before the game, was creative and celebrated kicking the sealer midway through the final term by miming opening and drinking a can of beer.
Skipper James Sicily (23 disposals), Jai Newcombe (35, one goal) and ruckman Lloyd Meek (23) were strong contributors, with Massimo D'Ambrosio (32), Jack Scrimshaw (26), Josh Ward (22) and Karl Amon (22) also busy.
Hawthorn dominated contested possession (150-125) and Dogs coach Luke Beveridge conceded his high-powered engine room had been "strong-armed" around the ball.
"You don't win these big finals if you haven't got integrity in the contest and you don't deal with pressure well," Beveridge said.
"There have been games where we have been pretty good at it.
"To be good at it every week in a pretty long year, that's every club's challenge.
"But on such a big occasion for us to go down and be humbled in that area, that's obviously the biggest concern coming out of it."
The Dogs' biggest names were below their best when it mattered most.
All-Australian captain Marcus Bontempelli (18 disposals, one goal) managed just nine touches to three-quarter time and tried desperately to lift his side at the start of the final term, but the damage had been done.
Adam Treloar (28 disposals, one goal), Tom Liberatore (25 touches) and Ed RIchards (23) were busy for periods but well beaten.
Nick Watson exemplified Hawthorn's spirit, ending with four goals in his first final. (Joel Carrett/AAP PHOTOS)
Bulldogs spearhead Aaron Naughton finished with three goals, including the opener inside 20 seconds of the first bounce.
The Dogs led 4.1 to 2.1 at the first break but were unable to dull Sicily's influence, while Newcombe led a midfield that lifted in a five-goal second term to give the Hawks ascendancy.
There were ominous signs early in the third quarter as the Hawks dominated territory, and the dam wall eventually broke.
Connor Macdonald snapped his second goal, Dear added his third with a brilliant set shot from the boundary and Watson converted after a Ginnivan pass to give Hawthorn complete control.
Bontempelli kicked the first goal of the final term as the Bulldogs briefly threatened to mount a fightback, but Ginnivan (one goal) shut the gate and celebrated in style.
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