This is beyond a shadow of a doubt, the finest Spider-Man story ever written. If not the greatest super hero story of all time. Way back 20 years ago Peter Parker finallly married the love of his life, Mary Jane Watson. The wedding got national press and sold very well, but no one knew what was comming next. And it was a shock. Kraven the Hunter was always considered a lower mid-card villan: around as significant as the Rhino, Electro or the Shocker. Nowhere near as big as Green Goblin, Doctor Octopus or Venom. Historicly, it was like watching the Red Sox play the Brewers instead of the Yankees. But no one expected such a second rate villan to be the center point of the greatest Spider-Man story of all time, if not the greatest story in all super hero history.
More down there.....
The history of Kraven is oddly similar to Ayn Rand. Not politicly, Kraven could care less about politics. The similarity was Kraven, like Rand was born and raised amoungst the Tzarist aristocracy, and had to flee to escape the Bolshevik revolution as a child. Unlike Ayn Rand, Kraven didn't start doing amphetimines non stop and hatch a batshit insane philosophy only raging tweakers could relate to. (Come on, admit it. Who got all the way through Atlas Shrugged without doing meth? Not me.) Kraven chose rather to "regain his dignitey" by living in the jungles of Africa, fighting wild animals with his bare hands, and learning herbalism from native indiginous tribes. He made himself the most famous hunter in the world and tried to expand his fame by hunting the most dangerous game: Spider-Man.
Unlike other Spider-man villand, Kraves wasn't a "criminal" per sey. He wasn't robbing banks or taking hostages. He simply wanted the thrill of beating Spider-Man for the sport of it. Unfortunatly for Kraven, Spider-Man kicked his ass on a consistant basis. Thats why Kraven went compleatly insane.
I'll let Wikipedia take it from here:
In "Kraven's Last Hunt", the supervillain hunter's aggravation with his inability to run the superhero down has destroyed his sanity. He hatches a final scheme that actually defeats Spider-Man, and seemingly and uncharacteristically shoots him dead. Kraven then buries him, and donning a copy of Spider-Man's costume, seeks to prove himself superior at his adversary's former activities.
He roams New York, brutally attacking criminals, including coincidently, a group of thugs assaulting Mary Jane Watson (the wife of Spider-Man/Peter Parker). The culmination of these activities is Kraven's successful unarmed capture of the supervillain, Vermin, whom Spider-Man needed the help of Captain America to defeat. After two weeks, Spider-Man revives from the effects of the tranquilizer dart Kraven shot him with, and manages to dig his way out of the grave. When Spider-Man confronts Kraven, the hunter does not fight back, considering himself the victor and his final point made.
Kraven then releases Vermin, who attacks Spider-Man, thinking him to the be the one who so brutally beat him before. Vermin is able to defeat Spider-Man, but Kraven intervenes before Vermin can kill him. He allows Vermin to go free, and tells Spider-man he can pursue him if he desires, but that Kraven's hunting days have ended. While Spider-Man goes after Vermin, Kraven retires to his home, reminiscing about his past and the peace he now feels, and commits suicide with a shotgun. Spider-Man catches up with Vermin and is able to outwit him, then goes home to his wife and recovers.
What Wikipedia doesn't mention or explain properly is Kraven's reaction to Spider-Man at the end. Spider-Man beats the shit out of Kraven but he just sits there and takes it with an insane grin on his face and says "Hit me all you want, Spider-Man, it doesn't matter anymore. I FINALLY BEAT YOU!!!!!" Kraven then attempts to hug Spider-Man, who wants no part of it. After Vermin escapes Kraven says to Spider-Man "I finnaly realise you are a decent man and will not allow a killer like Vermin to run wild." Spider-Man says to Kraven, "Why should I go after him when you are on the loose." Kraven responds "After all these years, dispite what you may think of me, you know me to be a man of my word. So I give you my word: Kraven shall never hunt again."
Spider-Man runs off, catches Vermin, while Kraven commits suicide, finally finding a sense of fufillment.
This six issue story arc is available in graphic novel format. I reccomend it highly.