When you kill the animal you can loot them for their meat, but also get a trophy of some sort. (Skull, etc) Maybe your fame would also go up or something. I just remember how fun it was trying to find the legendary animals in Red Dead.
It would also be cool if their was more to hunting than just sneaking with a bow and arrow. Just some ideas:
Animal Bait
Level of camouflage as a clothing stat
Headshots do 4x damage. So a sneak critical with a headshot would be devastating.
Special potions that paralyze animals that you can apply on your arrows
etc.
What do you guys think