Peter Fonda has died aged 79 after suffering respiratory failure from lung cancer.

The actor, best known for his role in 1969 film Easy Rider, died Friday morning at his California home.

Referring to the iconic movie he co-wrote and starred in, his family asked the world to 'raise a glass to freedom'.

Peter was the younger brother of actress Jane Fonda and son of Henry Fonda and he is survived by his wife Margaret DeVogelere.

His sister said in a statement: 'I am very sad. He was my sweet-hearted baby brother. The talker of the family. I have had beautiful alone time with him these last days. He went out laughing.'

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Peter Fonda has died after being recently hospitalized multiple times for an undisclosed ailment. He attends the premiere of Sony Pictures Classics' Boundries at American Cinematheque's Egyptian Theatre on June 19, 2018 in Hollywood

Peter was the brother of actress Jane Fonda and son of Henry Fonda (pictured June 2014). Jane said in a statement: 'I am very sad. He was my sweet-hearted baby brother. I have had beautiful alone time with him these last days. He went out laughing'

Actor was best known for his role in 1969 motorcycle film Easy Rider, for which he was Oscar-nominated for Best Actor. His family said in statement: 'In honor of Peter, please raise a glass to freedom'

His family wrote in a statement: 'It is with deep sorrow that we share the news that Peter Fonda has passed away. [Peter] passed away peacefully on Friday morning, August 16 at 11.05am at his home in Los Angeles surrounded by family. The official cause of death was respiratory failure due to lung cancer.'

Peter was planning a concert and screening of the classic film on September 20 at New York’s Radio City Music Hall to recognize the 50th anniversary.

Steppenwolf’s John Kay, Roger McGuinn, and other musicians are scheduled to perform while the motion picture is played, under the music direction of T-Bone Burnett.

The screen star's relatives referenced his role as Wyatt in the motorcycle movie about the freedom of the open road as they closed out their statement.

'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 statement 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. In honor of Peter, please raise a glass to freedom.'

Peter was the son of Henry Fonda (1905 - 1982, center). They appear with Jane Fonda, circa 1963

Peter Fonda and wife Margaret DeVogelaere attend the 2019 Vanity Fair Oscar Party hosted by Radhika Jones at Wallis Annenberg Center for the Performing Arts on February 24

Peter Fonda, Bridget Fonda, Jane Fonda and Troy Garity pose for a family portrait inside the Three Generations of Fonda on Film benefit at the Woodruff Arts Center on May 13, 2008 in Atlanta, Georgia

Peter Fonda arrives in New York with his family to participate in promotional activities for Universal's The Hired Hand in 1971, for which Fonda served as both director and star. With him are his wife, Susan, his daughter Bridget, 7, and his son Justin, 5

He appears with Dennis Hopper in Easy Rider. The movie also starred Jack Nicholson

The movie - which also starred Jack Nicholson and Dennis Hopper - earned Peter an Oscar nomination for his writing of the culture classic.

Peter collaborated with Hopper on the script about two weed-smoking, drug-slinging bikers on a trip through the Southwest as they made their way to New Orleans for Mardi Gras.

On the way, their characters befriend a drunken young lawyer — played by Nicholson in a breakout role — but raise the dander of Southern rednecks and are murdered before they can return home.

Peter Fonda’s character Wyatt wore a stars-and-stripes helmet and rode a motorcycle called Captain America, re-purposing traditional images for the counter-culture.

Peter produced and Hopper directed it for only $380,000. It went on to gross $40million worldwide, which a substantial sum for its time.

The flick has since been listed on the American Film Institute’s ranking of the top 100 American films. The establishment gave its official blessing in 1998 when Easy Rider was included in the United States National Film Registry for being 'culturally, historically, or aesthetically significant'.

Actress Illeana Douglas tweeted her condolences Friday with the hashtag 'RIPCaptainAmerica'.

'Easy Rider depicted the rise of hippie culture, condemned the establishment, and celebrated freedom,' Douglas wrote. 'Peter Fonda embodied those values and instilled them in a generation.'

It wasn't the last time he was to portray a motorcyclist on the silver screen.

Susan George and Peter Fonda starred in 1974 flick Crazy Larry Dirty Mary, directed by John Hough

Peter Fonda appears in 1976 movie, Futureworld, directed by Richard T. Heffron

He's pictured with his ex-wife Susan Brewer who he was married to from 1961 to 1974. They had two children children together, Justin Fonda and Bridget Fonda

As well as a role in the John Travolta-Tim Allen comedy Wild Hogs, he played Mephistopheles in the Nicolas Cage's Ghost Rider.

Peter was born in New York into Hollywood film royalty. His father Henry Fonda was already a movie giant, known for playing straight-shooting cowboys and soldiers.

Peter had an estranged relationship with his father throughout most of his life, but said that they grew closer over the years before Henry Fonda died in 1982.

Peter's sister Jane wrote about him in her 2005 memoir: 'Peter is all deep sweetness, kind and sensitive to his core. He would never intentionally harm anything or anyone. In fact, he once argued with me that vegetables had souls (it was the ’60s).

'He has a strange, complex mind that grasps and hangs on to details ranging from the minutiae of his childhood to cosmic matters, with a staggering amount in between. Dad couldn’t appreciate and nurture Peter’s sensitivity, couldn’t see him as he was. Instead he tried to shame Peter into his own image of stoic independence.'

In this Friday, October 23, 2009 file photo, Peter Fonda, poses atop a Harley-Davidson motorcycle in Glendale, California

Rob Reiner tweeted about the death of Peter Fonda on Friday, calling him a 'revolutionary filmmaker'

Actor Angus McFayden said Peter Fonda was one of the 'great raconteurs, he could hold a table for 4 hours'

Mother Frances Ford Seymour was a Canadian-born US socialite.

He was only 10 years old when his mother died. She had a nervous breakdown after learning of her husband had an affair and she was confined to a hospital. In 1950 she killed herself, slashing her throat with a razor. It would be about five years before Peter Fonda learned the truth behind her death.

Fonda accidentally shot himself and nearly died on his 11th birthday. It was a story he told often, including during an acid trip with members of The Beatles and The Byrds during which Fonda reportedly said, 'I know what it’s like to be dead.'

John Lennon would use the line in the Beatles song She Said She Said.

Peter loved Fleetwood Mac and sailing, continued to show his love of motorcycles by riding around on his MV Agusta F4 CC 200 hp, which was 21 out of only 100 built.

Peter Fonda appears in 2007 film 3:10 to Yuma, a Tree Line Films/Relativity Media motion picture directed by James Mangold

Peter Fonda appears in 2018 motion picture Boundaries

Following on from Easy Rider, Peter starred with Susan George in 1974 flick Crazy Larry Dirty Mary, and appeared in 1976 movie, Futureworld, directed by Richard T. Heffron.

He was nominated for a Best Actor Academy Award for his role as a beekeeper in the Victor Nunez-helmed 1997 flick Ulee's Gold.

Peter had supporting role as a bounty hunter in the 2007 remake 3:10 to Yuma.

He worked with Cage again when he portrayed the the father of the actor's character in the 2015 Louisiana political drama The Runner.

Peter claimed a Golden Globe in 2000 for his role in The Passion of Ayn Rand.

Peter was still making films as recently as 2018 when he appeared in Boundaries.

Just this March the actor was still being recognized for his achievements as he collected the International Mayahuel award for his outstanding career, during the 34th Guadalajara International Film Festival in Guadalajara, Mexico.

Peter was married three times.

He wed his current wife in 2011. Prior to that from 1975, he was married to Portia Crockett.

His first spouse was artist Susan Brewer who he was married to from 1961 to 1974. They had two children together, Justin Fonda and Bridget Fonda.

Johnny Grant, honorary mayor of Hollywood and chairman of the Walk of Fame Committee, Thomas McGuane V, grandson of Peter Fonda, Peter Fonda, Leron Gubler, president/CEO of the Hollywood Chamber of Commerce, and Christi Van Cleve, Chairman of the Hollywood Chamber of Commerce (1st Row) Shirlee Fonda, Tom LaBonge, L.A. City Councilman, Justin Fonda, Bridget Fonda, Becky Fonda, Thomas McGuane, stepson of Peter Fonda, and Larry Hagman

Peter Fonda giving a few words before being recognized with the International Mayahuel award for his outstanding acting career, during the 34th Guadalajara International Film Festival at the Performing Arts Center on March 9, 2019 in Mexico