The maker of Canberra's iconic Belco Owl has died

Melbourne sculptor Bruce Armstrong died on Thursday morning after a "long and brave battle with a terrible illness", according to his Instagram page.

He was 67.

ACT Chief Minister paid tribute to Mr Armstrong, who created the now iconic sculpture called, simply, Owl, but which has become known as the Belco Owl, standing on the corner of Belconnen and Benjamin ways.

"I am saddened to hear about Bruce Armstrong's passing and send my condolences to his family and friends," Mr Barr said.

"His landmark sculpture in Belconnen honours the powerful owl, Ninox strenua, which is the largest owl species in Australasia.

"The owl has a commanding and enigmatic presence when encountered in the wild and Bruce Armstrong's sculpture captures that.

"The Owl is a Belconnen and Canberra icon, Bruce has left a beloved legacy here in Canberra that will live on. Vale Bruce."

The sculpture quickly gained cult status in Canberra, unveiled in 2011.

It was initially lampooned for its phallic qualities, especially when viewed from behind, but locals got past that and took the owl to their heart as something uniquely Canberran and "Belco".

Mr Armstrong was asked once how he felt about people referring to his work as "The Penis Owl".

He replied: "I am happy with whatever people call it. What matters to me the most is that people are engaging with it."

The sculpture was most recently honoured with a place on the Canberra Monopoly board game.

The Powerful owl, meanwhile, is classified as an occasional resident to the ACT and has been sighted in the Australian National Botanic Gardens, Canberra Nature Park and Namadgi National Park.

Ginninderra MLA and arts minister Tara Cheyne said she was heartbroken to hear the news.

"The owl has become such a powerful sculpture and image which will always be associated with Canberra and especially with Belco," she said.

"Art is at its best when it intrigues, challenges and sparks discussion - the owl has done all that and more. Most importantly, Canberrans have proudly embraced it as an icon.

"Bruce approached life with energy and good humour. He not only welcomed me incorporating the owl onto a T-shirt in 2019, but proudly showed it off himself against his owl maquette.

"Thank you Bruce for your incredible contribution to art and to Canberra. Your work will continue to delight and inspire across Australia, and the owl as a guardian now carries even greater meaning."