The 55-year-old actress took to Instagram early Tuesday morning to pay tribute to Bing, who fathered her 18-year-old son, Damian.
"I am saddened beyond belief that my ex Steve is no longer with us. It is a terrible end. Our time together was happy and I'm posting these pictures because although we went through some tough times, it's the good, wonderful memories of a sweet, kind man that matter," Hurley's heartbreaking tribute began.
The "Runaways" star went on to explain that she and Bing reunited within the last 12 months.
"In the past year we had become close again. We last spoke on our son's 18th birthday. This is devastating news and I thank everyone for their lovely messages," Hurley concluded.
Along with her tribute, Hurley shared a slideshow of throwback photos of the former couple featuring them cuddling up close at a number of locations around the world, including an amusement park and a ski resort.
The Los Angeles Police Department confirmed to Fox News on Monday that authorities were investigating the death of a man in his 50s in the 10000 block of Santa Monica Boulevard in Century City.
The Los Angeles County Medical Examiner-Coroner's Office also confirmed the death to Fox News, but as of Tuesday morning, it had yet to identify Bing by name.
"The decedent was pronounced dead at the scene on 06/22/2020 at 13:10 hours. Identification is pending," a spokesperson for the coroner's office wrote to Fox News in a statement.
The Los Angeles Times, citing a law enforcement source, reported that foul play is not expected.
Bing, a film producer and wealthy financier, founded Shangri-La Entertainment, which produced and financed films such as "The Polar Express" starring actor Tom Hanks and 2007's "Beowulf." He also co-wrote the 2003 comedy, "Kangaroo Jack."
Bing was named the father of Hurley's son, Damian, in a 2002 DNA test, which he denied at the time, according to PEOPLE. He had another child, Kira, born to professional tennis player Lisa Bonder.
At the age of 18, Bing inherited an estimated $600 million from his grandfather, Leo S. Bing, a real estate developer, which led him to drop out of Stanford University and use the money to invest in Hollywood.
In 2009, Bing paid for the flight that carried Clinton and American journalists Laura Ling and Euna Lee home from North Korea, according to Deadline.
Fox News' Julius Young contributed to this report.