Michael Newman played himself as a lifeguard on the the show, alongside Hasselhoff, who credited his co-star with saving "my life at least four times" while filming the series.
He was diagnosed with Parkinson's Disease in 2006.
Paying tribute via Instagram, David Hasselhoff wrote the following message.
"Newman was a warrior….he literally saved my life at least four times", he began. "He did the transfer from the scarab to jet skis several times perfectly. What an amazing man".
"He was never afraid of the water. I remember directing him in a few episodes and he was really good", he added. "He became a great actor. We will all miss him".
Michael Newman also served as a full-time firefighter, and continued to work on the set of Baywatch, which ran from 1989 to 1999. He also featured in several Baywatch spin offs, including Baywatch: White Thunder At Glacier Bay, Baywatch Hawaii and Baywatch Hawaii.
Newman appeared alongside Louis Mandylor and C Thomas Howell in the 1999 film Enemy Action.
He also spent the last few years working with the Michael J Fox Foundation to seek a cure for Parkinson's Disease.
