Neutron The Atomic Superman Vs. The Death Robots (1962)

Starring Wolf Ruvinskis, Rosita Arenas, Julio Aleman, Armando Silvestre, Roberto Ramirez Garza
Directed by Federico Curiel
(actor & director credits courtesy IMDB.com)

Masked wrestler Neutron tries to thwart the evil plans of Dr. Caronte, who has survived his apparent death, and is working on assembling a powerful bomb with the aid of an army of zombies. 

This was one of a series of Neutron films, starring Ruvinskis as the masked hero, who per Wikipedia, was an actual professional wrestler at the time.  He doesn't have any scenes in the ring in the film, but has plenty of action-packed fights with the zombies, leading to a fiery showdown in Caronte's lab with the villain, who is also masked throughout the movie.  The zombies, or "death robots," as alluded to in the title, are really just men in melted-face masks, but still offer plenty of menace, and are led by Caronte's assistant, a unibrowed squeaky-voiced midget named Nick, adding an off-the-wall character to an already wacky story.  Better paced and with less exposition than some other entries in the genre, the filmmakers add some lovely songs and the subplot of Neutron's true identity being one of three men vying for the attentions of the lovely Arenas, making for an entertaining film.