The Israeli moviemaker, who co-founded his own production firm The Cannon Group, was well known for his work on 1980s action films such as Charles Bronson's Death Wish sequels, Chuck Norris' Missing in Action and The Delta Force, Superman Iv: The Quest for Peace, Masters of the Universe and Sylvester Stallone's Over the Top in 1987.
He also worked with Belgian martial arts icon Van Damme in 1988's Bloodsport, and now the actor has honoured Golan's memory with a post on Twitter.com, writing, "Rip, Menahem Golan... I love you and will always do."
Norris has also remembered the late filmmaker, revealing Golan's "faith" helped him land his big breakthrough in prisoner-of-war rescue movie Missing in Action in 1984, while Shaun of the Dead director Edgar Wright tweets, "Fly the Cannon Logo at half mast. Menaham Golan is no longer with us."
Meanwhile, Israel's culture minister Limor Livnat has issued a statement to mark Golan's sad passing, describing him as "a colourful and special person who will forever be remembered in Israeli culture".