The 55-year-old Wangaratta died after a battle with cancer yesterday, with daughter Paris Woods posting the news of his passing on social media.
"Today our boy rode his final lap. He’ll be missed by everybody whose lives he touched. Admired, loved and respected by all. A truly iconic legend. Vale Dean Woods O.A.M."
In a career spanning two decades, Woods was a three-time world champion, set one world record and four national records, won 20 national titles and 15 state championships.
Woods' early exploits on the track are some of his most famous, taking junior individual pursuit world championship titles in 1983 and 1984.
At just 18, Woods was selected in the 1984 Los Angeles Olympic Games team, where he finished 0.05 seconds away from a bronze medal in the individual pursuit. In that same Olympics he took home gold in the teams pursuit alongside Mike Turtur, Kevin Nichols and Michael Grenda.
Woods claimed a silver and two more bronze medals in future Olympics, alongside three Commonwealth Games gold medals, a silver and a bronze, with team and individual pursuit events his strength.
"His numerous achievements whilst in his youth, not least an Olympic Games Gold Medal at 18, were inspirational to every budding young cyclist," said fellow track gold medallist Scott McGrory on social media after the news. "And I was indeed one of those kids. So many of us were glued to our TV’s watching Dean, Michael Turtur, Michael Grenda and Kevin Nichols win Gold in the Team Pursuit at the 1984 Los Angeles Olympics."
Woods went overseas to ride a mixture of road and track in 1989 to 1992, riding the Vuelta a Espana twice and winning the opening stage of the Tour of Sweden.
In the 1990 Melbourne to Warrnambool Woods set the record of 5h 12m or 50.9 km/h for the fastest time in the then 265 km race, a record for the fastest time that stands to this day. Woods also one the race outright with the handicap and fastest time win in 1993.
"There is collective mourning that the world cycling community are experiencing, no words can express this, no doubt what Dean brought to Australian and world cycling will be a part of our lives forever, said AusCycling Education Coordinator Greg Meyland.
"Dean was an all-time Australian sportsperson, a legend who stood tall in any space. Dean paved the way for many aspiring athletes and has the respect of a nation. A larrikin at times, a deep thinker, a dreamer and a doer, Dean would take an idea and get the job done."
Woods retired at 30 from elite cycling, and went on to open a bike shop in Wangaratta, Dean Woods Direct. He remained an important member of the local community and national cycling conversation until his death.
"Dean was amazing support to me in the early years, always supported and encouraged me to be aggressive and never back down… that of course was music to my ears. Dean shared his experiences with me and guided me with no reservations," said track star and madison partner Matthew Gilmore. "I am eternally grateful to Dean and the impact he had on my sporting career and life."
While his death will be felt across Australia and the world, SBS Cycling Central wishes to pass on condolences to the family and close friends affected by his departure.