He had been battling pancreatic cancer for nearly two years and died with family at his side on Monday.
Jennifer Grey, who co-starred with Swayze in Dirty Dancing, said in a statement: “Patrick was a rare and beautiful combination of raw masculinity and amazing grace. Gorgeous and strong, he was a real cowboy with a tender heart.
“He was fearless and insisted on always doing his own stunts, so it was not surprising to me that the war he waged on his cancer was so courageous and dignified.”
Rob Lowe, who played in a number of films with Swayze, said: “Patrick lived a thousand lifetimes in one lifetime. He was an expert dancer, he wrote hit songs, he starred in hit movies, he was an amazing horseman.
“But the thing I will remember him most for was his amazing love affair with his wife Lisa.”
Demi Moore has also paid tribute to her co-star in the hit film Ghost, saying: “Patrick you are loved by so many and your light will forever shine in all of our lives.”
She added: “I love and will miss you Patrick.”