Jordan was undergoing treatment for what he had called "quite aggressive" cancer of the bladder and prostate which spread to his spine and pelvis.
The family statement, published by rugby club London Irish, where Jordan was a patron, said he “passed away peacefully with family by his side in Cape Town” early Thursday.
“EJ brought an abundance of charisma, energy and Irish charm everywhere he went. We all have a huge hole missing without his presence. He will be missed by so many people, but he leaves us with tonnes of great memories to keep us smiling through our sorrow.”
F1 president and chief executive Stefano Domenicali, who was a senior Ferrari employee when Jordan owned his team, said Jordan was “a protagonist of an era of F1 and he will be deeply missed.”
“With his inexhaustible energy he always knew how to make people smile, remaining genuine and brilliant at all times.”
Irish businessman Jordan operated his own racing team in lower-level series before moving up to F1 in 1991, giving future seven-time champion Michael Schumacher his first race that year.
Christian Horner, then a young driver dreaming of F1 and now Red Bull team principal, recalled the advice he got from Jordan in 1991: “Get a good sponsor … welcome to the Piranha Club!” F1 has “lost a legend,” Horner said.
Jordan gave Schumacher his break in F1 because his regular driver Bertrand Gachot was sentenced to prison for assaulting a London taxi driver. The then-22-year-old Schumacher was with the team for only a single race before Benetton signed him in controversial circumstances.
“I am deeply saddened by the loss of Eddie Jordan. Eddie was a great individual, who for decades always brought a smile to the entire F1 paddock," said Flavio Briatore, who then ran Benetton and became a close friend of Jordan, and is now executive adviser at Alpine.
"I have fond memories of the time spent on and off the track with Eddie, and his presence across the entire F1 world will be greatly missed.”
Other Jordan drivers over the years included Damon Hill, who won the 1996 championship with Williams and gave Jordan its first win in torrential rain in 1998, future Ferrari driver Rubens Barrichello, and Heinz-Harald Frentzen, who was third in the championship for Jordan in 1999.
Jordan Grand Prix won four races before Jordan sold the team in 2005. Following more sales and name changes since then, the team competes as Aston Martin.
“Eddie Jordan was one of the all-time motorsport greats. He was a one-off, a wonderful human being, and a charismatic leader who founded this team and took it to F1 in 1991,” Aston Martin team principal Andy Cowell said in a statement.
“His vision laid the foundations for us and he leaves a lasting legacy for the entire motorsport community.”
Jordan also acted as the manager for car design great Adrian Newey when he left Red Bull for Aston Martin last year.
The Irish government praised Jordan's legacy in auto racing.
“I am saddened to hear of the passing of Formula 1 legend Eddie Jordan. A proud Dubliner, Eddie’s impact on the world of motorsport was truly remarkable,” Deputy Prime Minister Simon Harris said. "His passion, vision, and leadership shaped the sport and inspired so many. His legacy will live on."
When he revealed his cancer diagnosis last year, Jordan used it as an opportunity to urge listeners of his podcast to follow up on any health concerns.
“This is a little message to everybody listening to this, don’t waste or put it off,” he said. “Go and get tested, because in life you have got chances. Go and do it. Don’t be stupid. Don’t be shy. Look after your body, guys.”
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AP Sports Writer James Ellingworth in Duesseldorf, Germany, contributed.
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