Rick continued, 'He lived a very full life and through the History television show Pawn Stars touched the lives of people all over, teaching them the value of loving your family, hard work and humour.
'We appreciate everyone’s thoughts and prayers and ask that we are provided some privacy at this time.
In a second post, Rick revealed Harrison died after a long battle with Parkinson’s disease.
'Today I lost a friend, a father, a teacher and so much more,' he wrote. 'The Old Man lost his long battle with Parkinson’s this morning. Love you Dad. See you on the other side.'
Harrison owned the Las Vegas Gold & Silver Pawn Shop alongside his son Rick.
The family business became the subject of the highly successful History Channel show Pawn Stars.
The hugely successful show premiered in July 2009 and featured local experts who visit the shop and help evaluate the rare, and strange items brought to the store by sellers.
In a statement, the History Channel said they were 'deeply saddened' by the loss of Harrison.
'We are deeply saddened by the loss of our friend Richard ‘The Old Man’ Harrison, a beloved member of the Pawn Stars family. He will be greatly missed for his wisdom and candor. Our thoughts are with the Harrison family during this difficult time.'