My method is derived from the method of Patrick from Backwoods Survival School, although I do it slightly differently. I have yet to try his method completely, but I suspect it may be better, especially on smaller hooks.
As in all antler works, soaking the piece in warm water when you don't work it will make the work much easier. Antler is easier to make into a hook in my opinion and can be made thinner due to more flexibility, but bone soaks up water slower and thereby retains it's sharpness better. I have found that if you choose a piece that is rounded in the first place you will automatically achieve the profile Patrick claims to be advantageous in his tutorial.
Start by drilling a hole in the blank where you want the bottom of the hook to be.
Drill a sequence of holes upwards until you have the depth of the hook.
I run the hole out the side, while Patrick runs it out on the top. The pith should be split away first, it will make it all a lot easier. Score between the holes, but save half of a "bridge" for a barb.
Scrape out inside of the hook as you want it.
After the inside looks like a hook at the right dimentions, score and carfully split off the excess on the outside of the hook. Scrape it smooth and round the edges. If you haven't already done that, carve in a bigger recess under the barb to give it better function.
Let the hook dry and sharpen it well.
This hook is the biggest I have ever made and is 6cm in lenght. My experience with metal hooks tell me that hooks around 1-3cm are the most effective on trout, so that is where most of my hooks are and most of the future ones will be. This one is specifically aimed for sea fishing this summer.
Here is the finished hook.