It was the Hawks' fourth win in five games to start the 2006 season - only one less win than they achieved for all of last year in Alastair Clarkson's first year as coach.
But of their four wins so far this season, this 12.12 (84) to 12.11 (83) victory was the sweetest of all for Hawks' fans coming against their arch-rivals from the 1980's and the team that has inflicted more misery upon them than any other team over the past decade.
It was only the Hawks' third win in their past 16 meetings against Essendon, dating back to 1994, and leaves the Bombers' season in danger of collapsing.
While the Hawks made their best start to a season in 2001 - the last time they made the finals - the Bombers now have just one win from five games - their worst start to a season since coach Kevin Sheedy's first year in charge in 1981.
Once again the Bombers, who have now lost four games in a row since beating reigning premiers Sydney in the opening game, played well without winning just as they did in the past two matches against the Bulldogs and Collingwood.
This was a courageous effort from Essendon considering the Bombers had only had a five-day break coming into the game - following Tuesday's Anzac Day clash against Collingwood - while the Hawks had enjoyed a nine-day break.
And when Hawthorn led by nine points at the last change, Essendon could have been excused for being overrun in the final term particularly in a match which had been played in wet conditions following heavy pre-match rain at the MCG.
But as the rain pelted down in the final term it took a moment of sheer brilliance from the Hawks' pocket dynamo in attack Mark Williams to win the game for the home side.
The Bombers had led since the 11-minute mark after kicking the first three goals of the final term and just as Chris Heffernan snapped the goal to put Essendon in front - after intercepting a handball from Zac Dawson - the rain began to pour.
Suddenly Essendon's one-goal lead looked huge as the Hawks tried for the next 13 minutes to get the goal they needed to get back in front.
But just as it looked impossible for any player to take a clean mark - let alone one of the smallest players on the ground - Williams took a great overhead, contested mark in front of Henry Slattery at the 24-minute mark.
The Hawks' leading goal-kicker of last year then coolly converted from 45 metres out directly in front, which in itself was a tough task in the worst conditions seen at any AFL game this year.
Williams' goal - his third of the game on a day when he kicked poorly in finishing with 3.4 - gave the Hawks a one-point lead which they held onto for the last three minutes as virtually every player was on the ball at the final siren with the ball just 30 metres out from the Essendon goal.
The Bombers had earlier jumped the Hawks to lead by 16 points at quarter-time but that margin had been cut to just a goal at half-time.
In the second half the Bombers' veteran centre-half-forward Scott Lucas threatened to win the game for Essendon as Jobe Watson and Jason Johnson - in his best showing for the year - continued to surge the Bombers forward.
But ultimately it was Hawthorn's experienced players, plus Williams' moment of brilliance, which proved the difference on a day when the Hawks' two key midfielders in Sam Mitchell and Luke Hodge were below their best.
Former skipper Shane Crawford was inspirational with 25 possessions and a great snap goal in the second term while Joel Smith was impassable across half-back and Peter Everitt rucked his heart out.
Add to that Williams' three goals and the continued development of players such as Tim Clarke (22 possessions), Jordan Lewis (19 possessions) and Campbell Brown (19 touches and a goal) and the Hawks' fans have more to look forward to with every passing week.
Essendon coach Kevin Sheedy admitted his disappointment at again seeing the Bombers get so close to a much-needed win.
"It's a very frustrating period for our club, no doubt about that," Sheedy said.
"But that is the competition at the moment - the teams that are getting up are getting up by a kick or two.
"But we had our opportunities to win the game today and we should have."
Hawthorn coach Clarkson says the Hawks' on-ball brigade was a major factor behind the win, and he was encouraged by the way the experienced players continue to step up at crucial stages of matches.
"Vandenberg, Hodge, Mitchell, Everitt (and) those sorts of guys are very important for us," Clarkson said.
"Crawford was terrific for us today again, and Joel Smith (also was) in defence. We have got a good leadership group who marshal the troops together when it matters."
HAWTHORN: 1.4, 6.5, 11.7, 12.12 (84)
ESSENDON: 4.2, 7.5, 9.10, 12.11 (83)
GOALS – Hawthorn: Williams 3, Dixon 2, Clarke 2, Crawford, Everitt, Brown, Vandenberg, Croad Essendon: Lucas 3, Hird 2, Lovett 2, Bolton, Heffernan, Hille, Winderlich, Bradley
BEST – Hawthorn: Crawford, Clarke, Smith, Jacobs, Williams Essendon: Watson, J.Johnson, Lucas, McVeigh, McPhee
INJURIES – Hawthorn: Nil
Essendon: Nil
CHANGES: Nil
REPORTS - Nil
UMPIRES - James, Schmitt, Kamolins
CROWD - 40,179 at MCG