The family confirmed to People magazine that the actor died after suffering respiratory failure due to lung cancer.
Born into Hollywood royalty as Henry Fonda's only son, Peter Fonda carved his own path with his non-conformist tendencies and earned an Oscar nomination for co-writing "Easy Rider." He never won an Oscar but would later be nominated for best actor in "Ulee's Gold."
The family says this is one of the saddest moments of their lives and asks for privacy.
The Associated Press contributed to this report.
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