One of the founding fathers of progressive rock, the British musician is known for songs including In the Court of the Crimson King and his solo hit I Believe in Father Christmas.
He died on Wednesday after “a long and stubborn battle with cancer”, said his manager.
The news comes nine months after Lake’s band-mate Keith Emerson died.
Keyboardist Emerson died of a self-inflicted gunshot wound, coroners in the US said.
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