Savident first appeared on the cobbles as Fred Elliott in 1994, before quickly becoming a fan's favourite, with his comical tendency to repeat himself, "steady on I say steady on".
His death was confirmed by his agent who released this statement to the PA news agency, "We are sad to announce the death of the actor John Savident who died on Wednesday 21 February, he was a much-loved husband and father of two and will be sorely missed by all who knew him".
Savident's storylines included a disastrous love live, featuring several failed marriages, as well as proposals, while a secret son Ashley Peacock played by Steve Arnold, also arrived on the show, with the two forming a close bond, working as butchers together.
Elliott's previous marriages included Maureen Holdsworth (Sherrie Hewson), and Eve Sykes (Melanie Kilburn) in the soap.
In 2006, Fred Elliott was eventually killed off, dying from a stroke a day when he was due to marry Bev Unwin (Susie Blake). His death saw Audrey Roberts played by Sue Nicholls, confess that she loved him, having turned down his marriage proposal to her some years earlier.
Paying tribute to Savident via X, Coronation Street paid homage to the actor.
"Everyone at Coronation Street is deeply saddened to learn of John Savident’s death. As Fred Elliott, John firmly established himself in the pantheon of Coronation Street greats", they wrote. "His peerless comic timing, combined with a deep pathos arising from his outstanding dramatic skill, made Fred an unforgettable, iconic character that provided great joy to viewers for many years".
In October 1986, John Savident played the opera house owner Monsieur Firmin in the first staging musical The Phantom of the Opera at Her Majesty's Theatre in Haymarket, London, before returning to play the character in 2011.
As well as his stint on the cobbles, John Savident also starred in the political comedy Yes, Minister, along with the war film The Battle of Britain, dystopian thriller A Clockwork Orange, the biopic Ghandi, and period dramas Middlemarch, and The Remains of the Day.
He also appeared on stage in panto productions of Snow White and the Seven Dwarfs, and Harold Brighouse's Hobson's Choice.
John Savident is survived by his wife and theatre director Rhona Hopkinson and their two children.