According to reports by 7 News, Police confirmed: "they were called to the tower just after 7pm after reports the man had fallen."
The body of a man was found away from public view shortly after the tragic event.
Sydney Tower Eye Divisional Director, Rob Smith has since issued a statement following the tragic incident.
"This is a very distressing situation for all those involved, and our thoughts are with the family and friends of the guest, the Sydney Tower Eye team, and our guests," it began.
"Sydney Tower Eye and SKYWALK operates to the highest quality standards conforming to all regulatory requirements, building codes and best practice in the industry. The team at Sydney Tower Eye immediately activated its safety procedures and emergency services quickly arrived on site. The details of the incident are currently being investigated, and we are providing counselling and support to the other guests affected as well as ongoing support to our staff.
"Following the incident on Thursday 8th March, Sydney Tower Eye undertook a full and comprehensive review of its safety measures which has led to a number of changes aimed to prevent such incidents.
The statement confirmed that the new safety measured include, "the introduction of a full body harness developed in consultation with third-party safety experts that goes well beyond industry and Working at Heights standards with strict controls to avoid removal outside of deliberate and significant intention."
Furthermore, "modifications have been made to the harness equipment, safety attachments and clothing, as well as guest briefing protocols, designed to actively deter tampering have been introduced."
Authorities have stated that they are not treating the death as suspicious.
Anybody struggling with a mental illness should call Lifeline on 13 11 14 or Beyond Blue on 1300 22 4636.