Collingwood's loss keeps the Tigers, Adelaide, West Coast and Gold Coast in the hunt for the final spot in the top eight.
The Norm Smith medallist was bumped by Jesse White late in the third quarter, but said post-match the injury was just a corked hip.
Midfielder Brad Hill was also a late withdrawal 90 minutes before the match with a corked quad, but Hawthorn otherwise finished the match with a clean bill of health.
As they did against Geelong last week, the Hawks made a slow start and appeared to be in trouble, but they pulled themselves together and went on a devastating run after quarter time.
By the end of the third quarter, with their spread and pinpoint ball use on full display, the Hawks had kicked 10 of the last 12 goals to lead by 43 points.
They raced to the finish line to notch their seventh consecutive win against the Magpies, and their biggest win since round seven.
"A lot of people in the footy community perhaps forgot that had Collingwood won, they could have still finished in eighth position," he said.
"That didn't surprise us, the endeavour that the Collingwood side had early in the game. It was just a matter of trying to withstand that pressure.
"We knew that if we could just hang in there they'd be unable to probably go with us for the full four quarters."
Hawthorn forward
Jack Gunston kicked five goals, while midfielder Sam Mitchell (30 possessions and 10 clearances) and Brownlow Medal hopeful Jordan Lewis (33 and 11 marks) – who could snare a crucial three votes – drove the midfield.
The battle to lead the Hawks' ruck division in the finals is probably alive after Jonathon Ceglar finished with 11 possessions, 15 hit-outs and one goal.
Ben McEvoy will have the chance to press his claims in Box Hill's VFL final against Port Melbourne on Saturday.
For Collingwood, which was already decimated by injuries to key players, it was midfielder Steele Sidebottom (36 possessions and nine clearances) captain Scott Pendlebury (28) who battled hardest.
The injury-ravaged Magpies missed the finals for the first time since 2005, and finished the season with an 11-11 record after winning eight of their first 11 matches.
"Lambs to the slaughter comes to mind a little bit," he said.
"We came with good intent and we executed our plans pretty well early … we just weren’t clean enough to take advantage.
"As the game wore on, the Hawks' legs were telling against us and it just looked like we didn’t have anything under us. In the end, the result looked after itself."
The Hawks were well off their game in the opening term, and might have been contemplating avoiding injury at all cost with so little to gain.
The Magpies, meanwhile, had everything to play for with their finals flame flickering, and they threw their best at the reigning premiers for 30 minutes.
But with an average of just 66 games' experience – compared to the Hawks' 118 – the tide was always going to turn.
It did in the second quarter, with Mitchell and Lewis asserting themselves in the midfield, while Roughead and Gunston combined for five goals in the term.
Roughead finished with four goals, leaving him five short of former Hawthorn's teammate and Coleman Medal leader Lance Franklin (67).