The tentacled tipster's luck has finally run out and staff at his sea life centre found him dead this morning.
Paul shot to fame during this summer's World Cup using his amazing powers of predictions.
The British-born mystic mollusc picked the right winner in every single game he was challenged to predict at his new home in Germany.
A £10 accumulator on Paul's tips would have won £3,000 at William Hill.
Stefan Porwoll, manager of the Oberhausen Sea Life Centre in Germany, said: "His success made him almost a bigger story than the World Cup itself."
Paul predicted the winners of all Germany's World Cup clashes, and then the final by selecting one of two boxes, each loaded with a mussel food treat and marked on the outside with one of the teams.
Staff at the centre said his death was not entirely unexpected, since common octopuses generally only live a couple of years.
Stefan said: "He appears to have passed away peacefully during the night, of natural causes, and we are consoled by the knowledge that he enjoyed a good life here.
"We may decide to give Paul his own small burial plot within our grounds and erect a modest permanent shrine."
Paul's memory will live on in a range of memorabilia ranging from clothing lines to mobile phone applications.
He will also feature in a documentary to be released early next year.