Believed to be between 40 and 45 years of age, the carp apparently died of natural causes.
Named for his distinctive coloratio, Two Tone was a mere 5.4 kg when he was plunked into Conningbrook Lake near Canterbury, southeastern England, in 1982 as part of a stocking program.
When he was last caught and weighed two years ago, he registered a whopping 30.8 kg.
There were reports some fishermen spent up to 15 years trying to catch him and as many as four marriages broke up over the time anglers spent casting for him.
But he was wily to the end and only rarely got hooked.
On the few occasions he was caught, Two Tone was always respectfully returned to the waters.
His fame was so widespread that Two Tone will not suffer any final indignities involving frying pans or stuffing.
He will be buried next to his lake and a plaque will mark his grave, with a champagne toast planned to honour him.
Chris Logsdon, head of Mid-Kent Fisheries which owns Conningbrook, told the Angling Times he made the sad discovery of Two Tone's body.
"A couple of anglers called to say they'd seen a big carp floating dead on the surface which they thought might be Two Tone," News.com.au quoted him as saying.
"So my son and I went straight over to investigate. Sure enough it was the old boy - I was gutted.
"He'd had a hard winter followed by a tough spring, but there wasnt a blemish on him - no scars, ulcers or any other sign of damage.
"He was just old - he must have been 40 or 45. It's very sad, the end of an era, because Two Tone was part of carp fishing history," he added. (ANI)