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Announcing Young's death, his brothers Malcolm and Angus said: "it is with pain in our heart that we have to announce the passing of our beloved brother and mentor George Young.
Without his help and guidance there would not have been an AC/DC.
George Young was also a mentor to and producer of the hard rock and heavy metal band AC/DC, founded in Australia by his fellow-Glaswegian younger brothers Malcolm and Angus Young in 1973.
Axl Rose, famed frontman of Guns 'n Roses, joined AC/DC last year.
After the Easybeats dissolved, George Young continued as a production and song-writing duo with his old friend Harry Vanda, initially in London and later back in Australia.
GLASGOW-born George Young, who has died aged 70, became one of Australia's most popular and best-loved rock stars, writing and performing with the 1960s band The Easybeats, including on their biggest international hit Friday on my Mind (1966), which he co-wrote with lead guitarist Harry Vanda.
Dutch-born Vanda's driving E-minor intro, played on his Maton DC545 Slenderline guitar, remains one of the most memorable in rock history, before Leeds-born Stevie Wright launches into the lead vocal with Young on back-up vocals and rhythm guitar.