Legendary horseman and patriarch of the famous Australian racing family, Paddy Payne Sr, has died aged 90.

He was father of Michelle Payne, the first woman to win the Melbourne Cup, and husband to late Mary Payne, whom he had 10 children with.

Daughter Michelle took to social media to pay a tribute to her father, saying "RIP Dad. you finally get to go and see Mum again".

Racing Victoria issued a statement acknowledging the passing of the "legendary Ballarat horseman".

"Paddy was the patriarch of the Payne family as they established themselves as one of the most famous surnames in Australian racing," the statement continued.

Racing Victoria Chief Executive Aaron Morrison said "Paddy was the doyen of a family that has greatly enriched Australian racing and provided us with so many great memories."

"Whilst Paddy has passed, his contribution to the sport will not be forgotten and his legacy will live on."

Payne's wife Mary died in a car accident in 1986, leaving him to raise their children when Michelle was just six months old.

Another daughter, Brigid, a former jockey, died of a heart attack in 2007.

In an interview with the ABC in 2015, Payne said: "We've had some good success and some bad luck as well."

"We're a close family and we get on good and my kids get on good, it's lovely for me to see that."