Hollywood legend Peter Fonda has died at the age of 79.

According to a statement released by his family, the actor/screenwriter died Friday morning in his Los Angeles home surrounded by loved-ones. The family says Fonda died of complications caused by lung cancer.

"It is with deep sorrow that we share the news that Peter Fonda has passed away," read the statement obtained by People magazine. "[Peter] passed away peacefully on Friday morning, August 16 at 11:05 a.m. at his home in Los Angeles surrounded by family.The official cause of death was respiratory failure due to lung cancer.

"In one of the saddest moments of our lives, we are not able to find the appropriate words to express the pain in our hearts. As we grieve, we ask that you respect our privacy," the family continued. "And, while we mourn the loss of this sweet and gracious man, we also wish for all to celebrate his indomitable spirit and love of life,” the Fonda family finished. “In honor of Peter, please raise a glass to freedom."

Fonda had worked in the entertainment industry for nearly 60 years, landing credits in a slew of television and movie projects. His breakout role was in the 1969 counterculture film Easy Rider, which he produced, co-wrote, and starred in alongside Dennis Hopper and Jack Nicholson. The movie earned Fonda his first Academy Award nomination (Best Original Screenplay); he would receive his second nod in 1997 for Ulee's Gold (Best Actor). 

Born in 1940, Fonda was part of a Hollywood royal family: He was the son of celebrated actor Henry Fonda, the father to actress Bridget Fonda, and the brother to actress Jane Fonda.

Jane released a separate statement to Deadline in wake of her brother's death.

"I am very sad. He was my sweet-hearted baby brother," she said. "The talker of the family. I have had beautiful alone time with him these last days. He went out laughing."

You can read some of the tribute messages for Fonda below.