Pran Kishan Sikand, lovingly called Pran or Pran sahab, as many in the film industry addressed him, died at the Lilavati hospital on Friday.
"A gentleman of the finest order, an admirable colleague, a thorough professional, a master of disguise in the characters he played, a delightful companion after 'office hours’ and a considerate human, Pran Saheb," Amitabh posted on his blog.
Amitabh had worked with Pran in several films like 'Zanjeer' (1973), 'Amar Akbar Anthony' (1977), 'Don' (1978) and 'Kaalia' (1981).
The 70-year-old says the Pran's death is "another deathly blow" to the Indian film industry.
"Another stalwart leaves us, and this massive and imposing film industry edifice, tottering by the removal of the giant pillars that held it up, suffers another deathly blow.
"'At this time of our lives’, as a close relative once sadly said ‘we do not make friends any more, we lose them’," he added.