The 82 year old passed away in Melbourne, Australia after suffering complications during an operation to treat a chest aneurysm.
Mercurio confirmed the sad news and remembered his father in a statement, which reads, "He was a larger-than-life bloke. He was passionate. He was driven. He had a great, a wonderful confidence... he was a pain in the a**e quite often because of that and yet he lived with such fervour that he was magnetic."
American-born Gus Mercurio rose to fame after moving Down Under and swapping his job as a professional boxer for a role on camera. He starred in many Australian TV shows and a number of movies throughout his long-running career, including Crocodile Dundee II and Lightning Jack with Paul Hogan.
Mercurio is survived by his partner and six children.