He becomes the 28th player at the club to wear the number made famous by Doug Hawkins, Scott West and Alby Morrison.
It was left vacant at the end of last season when Shaun Higgins joined North Melbourne as a free agent.
Although Hunter, who turns 20 on Saturday, understands that swapping from No.26 to No.7 will add some pressure, he could not let the chance pass.
"Obviously [No.7] has got a rich history at the club," Hunter told AFL.com.au.
"It is a massive honour to get it and hopefully I can go all right with it."
Another youngster, Nathan Hrovat, was honoured with the No.13 jumper, made vacant by Danial Giansiracusa's retirement and couldn't hide his delight.
"Obviously I’ve looked up to Gia over the last couple of years, he’sreally helped me coming into the club and playing as a forward," Hrovat said.
Hunter has kicked 13 goals in 23 games, showing promise after being picked up with selection No.49 in the 2012 NAB AFL Draft.
The father-son recruit's father Mark played alongside both West and Hawkins during his 130-game career at the Bulldogs.
He remains good friends with Hawkins, who was rapt with the news.
"I think it's great. He plays with a little bit of flair and has got a few tricks. For the kid to want to wear No.7 is good too. He'd know the history of it," Hawkins told AFL.com.au.
"To have played with his dad and to have his son take the jumper I think it is terrific."
Hawkins was modest enough to say West took the number to another level and he hoped Hunter could do well in the number too.
Hunter is hoping to build upon the foundation he laid in his first two seasons under new coach Luke Beveridge, who also played at the Bulldogs alongside both Hawkins and West.
"At the moment it's about cementing a spot in the side. We're going to have a pretty young side … so hopefully I'll be able to do that and just build from there," Hunter said.
"Hopefully I can do something close to what the people who have worn it in the past have done and then I will be all right."
West assumed the number from Hawkins in 1995 after two seasons and 40 games in the No.14 jumper.
West won seven best and fairest awards, was named All Australian five times and was placed in the Brownlow Medal three times during his 324-game career.
Hawkins won just one best and fairest at the Bulldogs but is a revered figure at the club. He was named in its team of the century and Whitten Oval carries a banner bearing his name on what is known as the Doug Hawkins wing.
Both players have been inducted into the Australian Football Hall of Fame.
"Between Westy and I, we won eight best and fairests," Hawkins joked.
Doug Hawkins gets carried off the ground after playing his 300th match in 1993. Picture: AFL Media
Morrison wore No.7 from 1928-1934 in a career that spanned 14 seasons. He won two best and fairests.
Roger Duffy, who died in 2003, wore the number with distinction in the club's 1954 premiership.
Hunter has also pleased a family friend by leaving behind No.26 and therefore passing up the opportunity to become the first player to reach 100 games in that number.
"Dad is good mates with Danny Del-Re and he always says he's the best player ever to wear No.26," Hunter said.
"No-one has managed to get to the 100 in it but I'm sure someone will one day."
Del-Re played 62 games with the Bulldogs between 1990-1994.
