Cowper died this weekend, aged 84.
The Victorian played 27 Tests for Australia between 1964 and 1968, retiring at age 28 to pursue a productive career in finance.
The left-hander scored 2061 runs, with the highlight being his knock of 307 that spanned 12 hours at the MCG in 1966.
Cowper was the first Australian to score a triple-century against England.
He remained the only Australian to produce a Test triple-century at home until Matthew Hayden's 380 against Zimbabwe in 2003.
Cowper played a largely unheralded role in World Series Cricket, helping run the breakaway competition that professionalised the sport.
He then became a Monaco-based multimillionaire while working in stockbroking and banking.
Cowper was given the nickname "Wallaby'' during his playing days, a nod to his father - and former Wallabies captain - Dave Cowper.
"We are deeply saddened to hear of the passing of Bob Cowper, who was a hugely respected figure in Australian cricket," Cricket Australia chair Mike Baird said.
"Bob was a wonderful batter who will always be remembered for his famous triple-century at the MCG, as well as his strong influence in the Australian and Victorian teams of the 1960s.
"He was also a significant contributor to cricket in other roles, including as an ICC match referee, and his wisdom was always keenly sought.
"On behalf of Cricket Australia, our deepest condolences to Bob's family, friends and former teammates at this very sad time."
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