Legendary Australian Formula One driver Sir Jack Brabham has died at the age of 88.

The three-time world champion passed away at his home on Australia's Gold Coast on Monday morning (19May14) after a battle with liver disease.

A statement from his son David reads, "It's a very sad day for all of us. My father passed away peacefully at home at the age of 88 this morning. He lived an incredible life, achieving more than anyone would ever dream of and he will continue to live on through the astounding legacy he leaves behind."

Brabham competed in 126 grand prix and won three titles in 1959, 1960 and 1966. He was knighted in 1979.