Known affectionately as "Hawkie," Hawke was Australia's prime minister from 1983 to 1991, winning four elections and becoming the country's third longest-serving leader.
His wife, Blanche D'Alpuget, released a statement on Thursday describing her husband as "the greatest Australian of the post-war era."
"Bob Hawke and Paul Keating and their governments modernized the Australian economy, paving the way for an unprecedented period of recession-free economic growth and job creation," her statement said.
In 1983, after being three years old, Australia's prime minister and would like to be on the job for almost nine years in the country's top job.
When he won the America's Cup in September 1983, Hawke famously declared, "Any boss who sacks anyone for
Paul Keating Liberalized the Australian Economy, Floating the Australian Dollar and Bringing It Into Universal Healthcare.
In the end, it was Keating who took his job as leader of the Labor Party in 1991 coup.
Hawke remains one of Australia's most popular prime ministers, regularly invited to drink at major sporting events by attendantes to cheers and applause.
In a statement, Labor Labor leader Bill Shorten said that "the Australian people loved Bob Hawke because they knew Bob loved them."
"In Australian history, in Australian politics, there will always be be bra and A.H: Before Hawke and After Hawke. After Hawke, we were a different country. A children, better, bigger and bolder country, "he said.
Developing story, more to come.