Sir Ian Holm, best known for his roles in Lord of the Rings, Alien and Chariots of Fire, has died at the age of 88.

The news was revealed by Holm's agent, who confirmed that his death early on Friday was related to Parkinson's disease.

"It is with great sadness that the actor Sir Ian Holm CBE passed away this morning at the age of 88," said the spokesperson. "He died peacefully in hospital, with his family and carer. Charming, kind and ferociously talented, we will miss him hugely."

Holm won a BAFTA and received an Oscar nomination for his role as athletics coach Sam Mussabini in 1981's Chariots of Fire, while he became known to younger audiences for portraying Bilbo Baggins in The Lord of the Rings and The Hobbit movies.

Paying tribute on Twitter, director Edgar Wright wrote: "RIP Ian Holm, a genius actor who brought considerable presence to parts funny, heartbreaking & terrifying. Thanks for Bilbo, Napoleon (twice), Sweet Hereafter, Big Night, Brazil and, of course the iconic Ash. 'I can't lie to you about your chances, but... you have my sympathies.' "

Holm, who was knighted in 1998 for his services to drama, is survived by his wife Sophie, three daughters and two sons.