A notorious drug lord and underworld figure has died in hospital after he was doused in petrol and set alight.

Victor Graveson, 65, suffered burns to 80 per cent of his body when David Charles Edgerley, 34, allegedly set him on fire as he slept in his own bed.

Surgery planned for the elderly man was cancelled, and doctors only put him on pain relief medication while they waited for the end, the Brisbane Times reported.

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Victor Graveson (right) died in hospital following an alleged murder attempt which left him with burns to 80 per cent of his body

Surgery planned for the elderly man was cancelled, and doctors only put him on pain relief medication while they waited for the end

A police prosecutor earlier told the Brisbane Magistrates Court his oxygen supply would slowly be decreased, and 'ultimately, it appears the complainant will pass away'.

This procedure was instigated because Graveson's family did not wish to turn off his life support.

Edgerley will now have his attempted murder charge upgraded to murder for the attack in Alexandra Hills, Brisbane, on Friday morning.

He has not applied for bail and will face court again on September 25.

Outside court, Graveson's niece Tammy Davis told reporters he should be remembered as more than a notorious criminal.

'The media has dragged enough mud and has not considered how much of a loving, caring, gentle son, father, grandfather, brother, uncle, friend he was,' she said.

The 65-year-old was linked to a murder cover-up on a drug farm near Bundaberg in 1993, The Courier Mail reported.

The farm was raided by police, who found 200kg of cannabis leaves, 7000 plants and a marijuana crop worth about $20 million.

Graveson was allegedly set on fire by David Charles Edgerley, who was facing charges of attempted murder but will face court on murder charges after Graveson died

Graveson, who has previously been referred to as a criminal 'mastermind' was set alight in his bed in Alexandra Hills, Brisbane

Graveson was one of five people arrested after the drug raid.

In 1995, Queensland's Supreme Court heard Graveson was a criminal 'mastermind', with links to a prostitution ring and outlaw bikie gangs who he supplied drugs to.

Graveson was jailed for 10 years in 1996 for his role in the production of the cannabis crop.

He has also been photographed partying with crooked cops and strippers in the late 1980s and early 90s.

Graveson was imprisoned in 2008 for meth possession.