The younger of the two singing siblings passed away in Burbank, California aged 74 after suffering complications from chronic obstructive pulmonary disease.
The sad news was confirmed by the music legend's wife Patti and has since prompted a string of tributes from leading musicians.
Green Day star Billie Joe Armstrong, who recently released a tribute album with Norah Jones called Foreverly, which is their own version of the brothers' second record Songs Our Daddy Taught Us, has taken to Twitter.com to share his grief.
He writes, "The Everly Brothers go way back far as I can remember hearing music. Those harmonies live on forever. We're gonna miss you Phil. Gratitude."
Linda Ronstadt, who recorded an interpretation of the duo's When Will I Be Loved in 1975, adds, "They had the sibling sound. The information of your Dna is carried in your voice, and you can get a sound that you never get with someone who's not blood-related to you. And they were both such good singers, they were one of the foundations, one of the cornerstones of the new rock'n'roll sound."
Queen rocker Brian May has also posted a tribute to the late star on his website, writing, "When we're young, we soak up up the things we love like a sponge, and the music of the Everlies (sic), which thrilled me to the core when I was a boy, will be in my head til I die... And tonight, about 3am, I hear that Phil is gone. I feel like a huge piece of my youth just melted away. I loved, loved those guys, and still do."
Other stars who have rushed to pay their respects include Rita Wilson, comedian Eric Idle and country star Charlie Daniels.