In a statement issued from Canberra, Mr Morrison said: "For nearly 80 years, Prince Philip served his Crown, his country and the Commonwealth.
"His Royal Highness The Duke of Edinburgh was, in the words of Her Majesty, her 'strength and stay'. He embodied a generation that we will never see again.
"Beginning as a naval cadet in 1939, he served in war and in peace. When Her Majesty ascended the throne, The Duke ended his military service and became her constant support.
"Prince Philip was no stranger to Australia, having visited our country on more than 20 occasions. Through his service to the Commonwealth he presided as patron or president of nearly 50 organisations in Australia. Given his own service, Prince Philip also had a strong connection with the Australian Defence Force.
"For 65 years, The Duke of Edinburgh's Award scheme has encouraged over 775,000 young Australians to explore their leadership potential. Forty thousand young Australians are currently participating in the program. Australians send our love and deepest condolences to her Majesty and all the Royal family.
“The Commonwealth family joins together in sorrow and thanksgiving for the loss and life of Prince Philip. God bless from all here in Australia.
"Further details about Australia's remembrance of Prince Philip will be announced over the coming days. Flags will be lowered in honour of His Royal Highness."
Other Commonwealth leaders left comments with Indian Prime Minister Narendra Modi saying: "My thoughts are with the British people and the Royal Family on the passing away of HRH The Prince Philip, Duke of Edinburgh.
"He had a distinguished career in the military and was at the forefront of many community service initiatives. May his soul Rest in Peace!"
Taoiseach of Ireland Micheál Martin said he was "saddened to hear of the death of HRH, Prince Philip, Duke of Edinburgh. Our thoughts and prayers are with Queen Elizabeth and the people of the United Kingdom at this time".
New Zealand's Prime Minister Jacinda Ardern said: "Our thoughts are with Her Majesty The Queen at this profoundly sad time. On behalf of the New Zealand people and the Government, I would like to express my sincere condolences to Her Majesty and to all the Royal Family."