Chartoff whose partnership with Irwin Winkler created classic films such as "Rocky" and "Raging Bull", passed away on Wednesday at his home in Santa Monica, California following a battle with pancreatic cancer, reported Variety.
The producing duo founded Chartoff-Winkler Productions in the late 1960s, and together churned out more than 25 feature films, including boxing classic "Rocky", which earned them the Academy Award for Best Picture in 1976.
They also received Best Picture nominations for Robert De Niro's "Raging Bull" and astronaut drama "The Right Stuff".
The duo's other credits include "Point Blank", "They Shoot Horses, Don't They?" and "The Gambler".
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Chartoff went on to produce films without his partner, including "Beer", "Straight Talk", "In My Country", "The Tempest", and 2013's "Ender's Game".
He was listed on two upcoming films featuring his "Rocky" star Sylvester Stallone - hitman drama "Scarpa", and the highly-anticipated Rocky spin-off "Creed".
Chartoff, who was previously married to late British actress Vanessa Howard, is survived by his third wife Jenny Weyman and his five children.