After four decades serving hot jam doughnuts outside a suburban train station, Footscray's Olympic Doughnuts is shutting up shop.

Maribyrnong Council on Monday posted to its Facebook page that the much-loved store would not reopen due to the ill health of its owner, Nick Tsiligiris.

The Olympic Doughnuts shop at Footscray Station.

Mr Tsiligiris started the shop outside the station in 1979, but stepped away from the business last year due to sickness.

The council's statement said the Tsiligiris family had made the decision to permanently close the shop due to the 76-year-old's ongoing health issues.