Australian powerboating great and world record holder Ken Warby has died aged 83 after a recent health decline.

Warby is most noted for being the “fastest man on water” after he designed and built his boat Spirit of Australia in his backyard, and set the world speed record of 463km/h on Blowering Dam in southern NSW, in 1977.

He returned the next year to set another record, reaching 511km/h.

Ken Warby, known as the fastest man on water, has died aged 83. (Nine)

That 1978 effort is still the Unlimited World Water Speed Record as of today.

Warby remains the only person to ever design, build, and drive a boat to an unlimited water speed record, and was the first Australian to hold an unlimited speed record.

He was made a Member of the Order of the British Empire (MBE) in 1978 for his service to powerboating, and was one of the first 200 inductees into the Sport Australia Hall of Fame.

Warby was inducted into the Sport Australia Hall of Fame. (Simon Alekna/spa)

Warby also raced in dragsters, cars and trucks on tracks in Australia and the US.

Most recently, he was building a new boat, Spirit of Australia II, alongside his son David.

“Ken will be greatly missed by his family and Team Warby Motorsport,” a representative said in a statement.

“His knowledge and Australian sense of humour can never be replaced.”

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