Politicians from around the country have paid their respects to the man with the hat.
Member for Murray Plains and leader of the Nationals Peter Walsh expressed his condolences.
"Tim epitomised everything it means to be a great Australian," he said.
"[He] was deeply respected by all sides of politics and by all those who had the honour of knowing and working with him.
"Tim left a lasting legacy from his time as Deputy PM, serving at the time of the horrific Port Arthur massacre that changed our nation and led to the transformation of Australia’s firearm laws."
Mr Walsh said Mr Fischer was always thinking of others.
"Tim was the sort of person who never stopped ringing to offer friendly advice, and it was always just that – friendly – as well as helpful and thoughtful.
"The National Party will forever be indebted to Tim for his service, his leadership, his loyalty and his unfailing optimism for the potential of our communities here in Victoria and right across regional Australia.
"Tim was a true champion for regional Australia and an outstanding Australian in every sense of the word. He will be greatly and sorely missed."
Member for Farrer Sussan Ley succeeded Mr Fischer following his retirement.
She said it is a sad time for the people of Farrer, whom Tim represented for over 17 years.
"Australia has lost one of its great political characyers, and regional Australia one of its great champions," she said.
"Tim was a mentor, whose passion for the history, culture and politics of our region shone through in everything he said at home and abroad.
"He travelled among us, he spoke for us, and we loved him for that."
Ms Ley said much will be shared about Tim's achievements.
"For me, the memory will be of the affable family man relaxing at the Lockhart Show enjoying a snag around the barbecue with his boys, chatting about trains... and, of course, wearing that hat."