Young's manager Lynda Bensky confirmed the actor's death.
"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.
This is breaking news. This story will be updated as more information becomes available.
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