Cox won a gold medal with Russell Mockridge in the 2,000-meter tandem event and silver in the 1,000-meter sprint at the 1952 Helsinki Olympics.AOC president John Coates described Cox as one of "Australia's finest Olympians."
"Lionel was a well-loved member of the Olympic family. He will be sadly missed," Coates said."He was a tough competitor who made a great contribution to his sport as an athlete and later as a coach."
AOC historian Harry Gordon said the ride of Cox and Mockridge in the tandem event at Helsinki was one of the most remarkable gold medal performances by any Australians.
Their bike had been discarded by the British team and brought from London to Helsinki by Mockridge. Cox had never ridden a tandem nor ridden with Mockridge until a week before the games.
"Blokes who've trained on tandems for years wouldn't have done what we did," Cox recalled years later. "But we gave it a go. We had one kick and a ride, and we jelled."
Cox is survived by his son, Bradley, and four grandchildren.