Sir Jack Brabham's youngest son David said in a statement:
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.
More top news
Self-driving cars could be tested on UK roads as early as 2021 under plans to be unveiled by Chancellor Philip Hammond.
The Prince of Wales visited areas recovering from Hurricane Irma, which battered the British Virgin Islands in September.
Taken in the White Drawing Room at Windsor Castle, a new photograph marks the couple's 70th wedding anniversary.