Young's manager Lynda Bensky confirmed the actor's death.
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"Burt was an actor of tremendous emotional range. He could make you cry and he could scare you to death. But the real pathos that I experienced was the poignancy of his soul. That's where it came from," Bensky said in a statement.
Young was Oscar-nominated for his role in 'Rocky,' playing Rocky Balboa's brother-in-law and best friend throughout the franchise.
Young was born and raised in Corona, Queens, in 1940.
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This is breaking news. This story will be updated as more information becomes available.
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